Crypto is no longer just an asset class, it is also an ever-more critical part of financial infrastructure, says Steve Kurz, Galaxy Digital’s (GLXY) global head of asset management and co-head of digital assets

In “The Great Convergence,” the company’s 2026 investment outlook, Kurz sets out a plan that’s pragmatic about what can be done now while staying optimistic about the big picture in the long run.

The defining story of this cycle, he argues, is the asset-to-infrastructure transformation.

“The convergence of traditional financial rails with crypto infrastructure represents a significant and durable market structure evolution for global financial services,” Kurz told CoinDesk in an interview.

Galaxy Digital, a digital asset…