Dragonfly Partner: Large tech companies may launch crypto wallets by 2026, and fintech companies building their own L1 are unlikely to succeed

CoinVoice has learned that Haseeb Qureshi, managing partner at the crypto venture capital firm Dragonfly, recently stated that by 2026, a major tech company may integrate or acquire a crypto wallet, while more Fortune 100 companies will attempt to launch their own blockchains. However, he also pointed out that the overall success of fintech companies trying to compete with mainstream public chains by building their own L1 blockchains is unlikely.

Qureshi posted on X that the next wave of enterprise adoption will mainly come from banks and fintech sectors. Some institutions may build more private, permissioned networks based on public chains like Avalanche, combined with existing tools such as OP Stack, Orbit, ZK Stack, while maintaining connections to public blockchains. Previously, financial giants like JPMorgan, Bank of America, Goldman Sachs, and IBM have explored private blockchains, but most remain in testing or limited application stages.

He also predicted that among large tech companies dominating the internet ecosystem (such as Google, Meta, or Apple), one may launch or acquire a crypto wallet in 2026, potentially bringing billions of users into the crypto ecosystem.

However, Qureshi is not optimistic about "public" L1s launched by fintech companies, believing they will struggle to compete with native crypto networks like Ethereum and Solana in key metrics such as active addresses, stablecoin liquidity, and RWA. "The best developers will still choose neutral infrastructure chains."

In terms of price, Qureshi expects Bitcoin to rise above $150,000 by the end of 2026, though market dominance may decline; the stablecoin market size is expected to grow by about 60% in 2026, with USDT’s share possibly dropping from around 60% to 55%. He remains optimistic about the continued growth of the prediction market but believes AI will only see large-scale applications in the crypto space in the short term outside security scenarios.