Galaxy’s Steve Kurz sees ‘great convergence’ driving crypto’s long-term outlook

Steve Kurz, Global Head of Asset Management at Galaxy Digital, argues that the defining story in crypto is its transformation from a mere asset class into critical financial infrastructure. In Galaxy's 2026 outlook, he details the 'Great Convergence'—the integration of traditional financial rails with crypto infrastructure—as a durable market evolution. Kurz notes the current market is experiencing a liquidity and leverage cycle pullback, which is healthier than past deleveraging events due to more sophisticated risk management. He anticipates several months of consolidation before a firmer move higher, as infrastructure buildout often precedes price appreciation. This integration places crypto on a 'bigger dashboard' alongside global assets, raising the bar for capital attraction but signaling maturity. Kurz emphasizes that the fusion of crypto as an asset and as a technology stack is building a more robust onchain economy, which is a multiyear structural shift, not a short-term trade. Galaxy is positioning itself across this stack, focusing on infrastructure, asset management, and capturing opportunities in this 'Fintech 2.0' moment.

(Source：CoinDesk)