Key Takeaways
- Digital asset payments are slowly diminishing the need to be bound only to banks for transferring money.
- At present, Tether owns more U.S. dollars than many sovereign funds.
- Crypto payments can become a Banking 2.0 system, but might not replace traditional finance completely.
The WikiExpo Dubai 2025 conference culminates with zest and enthusiasm, bringing the crypto landscape closer to other means of finance. Amid the hustle of the event, most crypto investors tuned in to panel discussions to grasp expert opinions on some of the most trending topics in the industry.
Out of all the talks taking place, the topic that garnered the most attention discussed the role of cryptocurrencies in legacy finance.
Cross Boarder Finance Via Crypto To Become Next Big Thing in Legacy Business
Big businesses often rely upon banks and other financial institutions for money payments and transfers. However, with the advancement of cryptocurrency payments, the ease of doing business has increased over time. The panel at WikiExpo Dubai heavily reflected upon how digital asset payments are slowly diminishing the need to be bound only to banks for transferring money.
The reliance on traditional means of finance for cross-border payments comes with a long list of rules and regulations, coupled with time-consuming procedures. However, the use of standardised crypto payments has slowly replaced the banking monopoly. That, coupled with the fact that digital asset payment is devoid of transfer fees and other hidden charges, has made the mode more appealing to big corporations.
The panel also forecasted that in the coming decade, the global cross-border payment mechanism will include over 10%-20% of crypto pay-outs. The outlook remains higher than the current figure of 3% in 2025, as per a recent Chainalysis report.
Also Read: Scammers Impersonating Police Target Australian Crypto Users in Sophisticated Scheme
WikiExpo Dubai 2025: Panelist Discusses Stablecoin Dominance
Stablecoins can enable instant global transfers while being pegged against assets like the U.S. dollar. The distinctive feature makes them less volatile, raising their market value for big firms, freelancers, and developing economies.
However, a striking detail that the industry has missed is the domino effect of stablecoin adoption. At present, Tether owns more U.S. dollars than many sovereign funds. Moreover, most popular stablecoins are pegged against the U.S. dollar, making their purchase a way for retailers to buy U.S. debt. The dependence makes investors much more susceptible to changes in the U.S. economy. If the U.S. faces a debt crisis, default scare, or political gridlock (like government shutdowns or delayed debt ceiling hikes), it can shake global confidence.
The association defeats the purpose of crypto being decentralised and away from the clutches of external factor volatility.
Crypto Use in Cross-Border Transactions, Still Exposed to Hacking Risks
Despite the benefits of using digital assets as a method of sending and receiving money across the globe, hacking has been a significant operational headache.
According to analytics firm Chainalysis, over $2.2 billion in cryptocurrency was stolen in the first half of 2025, which is more than was taken in the entire 2024. Approximately 23% of attacks targeted individual wallets, which Chainalysis described as a “increasingly significant” method of theft.
Hack attempts on crypto organisations and individuals are growing more regular, particularly as the price of Bitcoin and other tokens has reached new highs this year, fuelled by Donald Trump’s support for the industry. North Korean hackers stole $1.5 billion in cryptocurrency tokens from the Bybit exchange in February, the largest heist ever.
WikiExpo Dubai 2025 saw a unanimous agreement between panelists that governance is a key sector that the crypto industry needs to work on. In addition to governance, custodial monitoring continues to emerge as an important field.
Can Digital Asset Adoption Replace Traditional Banks?
Crypto’s involvement in the global payment system is set to grow in the coming years. However, despite the surging dominance, the financial landscape is yet to measure the extent to which crypto assets will be deployed by corporations for payments.
The conclusion of the panel remains firm on the thought that crypto payments can become a Banking 2.0 system, but might not replace traditional finance completely. Rather, both instruments can function in a co-dependent manner, without the hegemony of one over the other.
