Fu Peng: Traditional financial institutions will accelerate their entry into the crypto market, and stablecoin payments and Bitcoin financialization will usher in a new chapter.

Fu Peng, Chief Economist of Xinhuo Group, delivered a speech at the 2026 Hong Kong Institutional Digital Wealth Management Summit. He stated that the integration of traditional financial institutions with the crypto asset market will herald a new era for the market—and those truly poised to shape the future are the participants who swiftly transform themselves at critical inflection points. Citing the concurrent rise of the Cold War, the oil crisis, and breakthroughs in computing and semiconductor technologies during the 1970s and 1980s, Fu Peng pointed out that technological advancement and global systemic turbulence often unfold in parallel—risk and opportunity have always coexisted. He believes that AI and data computing power are now widely recognized as the core productive forces of the next era, signaling that the “first half” of the crypto industry has essentially concluded, and the sector is now entering a pivotal phase of restructuring and rebirth. Looking ahead, Fu Peng forecasts that stablecoins will assume payment functions, while Bitcoin will evolve into a core asset combining both value storage and financialized trading attributes—ushering in an entirely new chapter of the industry.