Written by: Animoca Brands

Translated by: Shaw Golden Finance

The cryptocurrency industry is entering an era of institutionalization and practical application. This once speculation-driven industry has evolved into institutional-grade financial infrastructure, becoming a financial internet backbone for a global audience, similar to an open-source model. Today, anyone can connect their business, application, or personal finances to this financial system, significantly lowering the barriers to participating in the global economy.

Animoca Brands Research's "2026 Digital Asset Outlook" points out that the global shift towards using tokens and blockchain infrastructure is not only driven by growth demand but also by the integration of on-chain and off-chain assets, the transformation of exchanges to cover all asset categories, and the solutions behind consumer-grade applications using blockchain. The report lists 10 major trends in the cryptocurrency industry to watch in 2026.

1. Integration of On-Chain and Off-Chain Assets

Real-world assets such as U.S. Treasury bonds, money market funds, stocks, and private credit have begun to move on-chain. By 2025, the tokenized U.S. Treasury bond market is expected to exceed $8 billion, accounting for 46% of the total $18.8 billion in tokenized real-world assets (RWA) in the crypto market, a staggering increase of 3.4 times from the previous year.

The "synthetic wrapping" used to track off-chain asset yields on-chain has become an industry-recognized investment method. The Animoca Brands Research team anticipates that the native issuance model (where assets are represented on-chain from the outset) will take shape by 2026.

2. Perpetual Contracts Going Mainstream

Perpetual contracts (Perps) are becoming widely adopted as a fundamental trading tool for active digital asset traders. The report predicts a trend of "perpetual trading for everything": an increasing number of assets, including stocks, exchange-traded funds (ETFs), RWAs, and tokenized funds, will be traded through perpetual contracts.

Perpetual contracts provide continuous liquidity, leverage, and risk management tools, making 24/7 digital asset trading more aligned with the expectations of professional trading in traditional markets.

3. Exchanges and Brokers Offering All Asset Categories

Cryptocurrency exchanges and traditional brokers are racing towards the same goal: providing comprehensive asset coverage.

Cryptocurrency exchanges are launching tokenized stocks, allowing users to track stock prices on-chain; traditional online brokers like Robinhood are integrating into the crypto system to offer retail investors tokenized assets and RWAs. The Animoca Brands Research team expects tokenized stocks to experience rapid growth in 2026.

4. Perp DEX: The Invisible Underlying Engine for Retail Applications

Perpetual contract decentralized exchanges (Perp DEX) are increasingly providing trading capabilities for crypto wallets, fintech applications, and consumer retail platforms.

By 2026, popular retail applications will use Perp DEX as a backend trading engine, completely independent of the user. This will enhance user retention on platforms and provide end-users with a more convenient trading experience. Many off-chain investors may even participate in on-chain operations without realizing it.

5. Maturation of Digital Asset Treasuries

The widely popular digital asset treasury (DAT) is expected to reach a turning point in 2025. These institutions hold and manage large reserves of cryptocurrencies. Data shows that a total of 225 DAT treasury companies hold $180 billion in tokens. However, market turbulence in the fourth quarter of 2025 has put some institutions under pressure.

While most DATs act as agents for traditional investors, indirectly gaining exposure to Bitcoin investments or typically obtaining exposure to Ethereum smart contracts, research indicates that struggling DAT companies may need to consolidate and diversify from digital assets to traditional off-chain assets. DATs will evolve based on market conditions, strategically accumulating digital assets by applying the fundamental logic of traditional finance.

6. Stablecoin Infrastructure for Global Business

With stablecoins officially coming under regulation, 2026 is expected to be a year of large-scale implementation of stablecoins across various economies and industries. Institutional-grade financial channels on blockchain will be integrated with mainstream applications and financial services like Stripe and Visa, allowing ordinary users to conduct stablecoin transactions without needing digital asset experience. The report predicts that this year will see a batch of regulated diversified stablecoins, with the market share of non-U.S. dollar stablecoins expected to grow fivefold.

7. The Year of On-Chain Treasuries

DeFi lending protocols are expanding from cryptocurrency collateralized lending to more financial services. On-chain treasuries have become the entry point for institutions to access digital assets and real-world assets. Some treasury structures also support external custodial institutions to provide liquidity across markets, optimizing returns and risks. Morpho Vaults, which support Coinbase's lending services, are expected to soon launch fixed-rate, fixed-term markets. The report suggests that liquidity will continue to expand through innovative treasury structures in 2026, making treasuries a mainstream investment vehicle for professional asset management institutions.

8. Retail Brands Leading Consumer Crypto Applications

As globally recognized brands adopt blockchain and token upgrades for their products and services, cryptocurrency will truly become mainstream. Regulatory frameworks like the CLARITY Act are expected to lower the risk threshold for companies to go on-chain. Major retail brands are upgrading their membership systems and business scenarios through blockchain, becoming key drivers of consumer acceptance of cryptocurrencies and legitimizing tokens in everyday applications. In 2026, consumers can expect their favorite brands to launch exclusive blockchains and tokens.

9. A Key Turning Point for Intelligent AI

Tokens are the native payment standard for artificial intelligence (AI) businesses. AI agent trading requires programmable digital currencies to complete payments. Stablecoins and other cryptocurrencies will further take on this role, enabling AI agents to achieve smoother commercial transactions in 2026. The report notes that autonomous trading between AI agents is likely to become widely accepted as a business practice this year, with AI agents representing businesses and individuals in procurement, profoundly impacting supply chains.

10. The On-Chain Privacy Race

As blockchain becomes more widespread, the demand for privacy transactions in specific business scenarios is becoming increasingly urgent. On-chain transactions typically allow anyone to access transaction details through public ledgers, such as currency amounts, wallet addresses, and timestamps. Now, on-chain participants and businesses are beginning to adopt zero-knowledge proofs (ZK-proofs) to add privacy layers to transactions, concealing sensitive data in public ledgers and providing viable solutions for digital identity and on-chain privacy transactions.

The "2026 Digital Asset Outlook" released by Animoca Brands Research further confirms that the era of digital assets driven by speculation is over. By 2026, blockchain infrastructure will reach a higher level of maturity, deeply integrating into the traditional financial system, becoming a truly institutional-grade technology that serves the real world.

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