According to Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, the turmoil in the cryptocurrency industry over the past year may lead to the technology being taken over by more established and regulated institutions in 2023.

In a recent blog post for the World Economic Forum, Disparte highlighted the increasing use of cryptocurrency in the financial services sector and argued that the current bear market and exchange collapses could ultimately be beneficial for the industry, paving the way for “responsible, always-on internet finance”. Disparte also stated that despite the challenges faced by the industry in 2018, mainstream financial services will eventually turn to cryptocurrency due to the technology’s prominent role in the global financial world.

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