Big Tech to Enter Crypto in 2026: Dragonfly Exec

Dragonfly managing partner Haseeb Qureshi has made a significant prediction regarding the future of cryptocurrency adoption by major corporations. According to Qureshi, Big Tech and Fortune 100 companies are expected to begin building crypto products in 2026. This represents a major strategic pivot for corporations that have historically avoided the crypto sector due to regulatory uncertainty and compliance risks.

Despite this anticipated corporate entry into the market, Qureshi offers a cautionary note regarding the viability of corporate-owned blockchains. He predicts that corporate Layer 1 (L1) initiatives will ultimately fail to gain traction against established industry leaders. Specifically, he notes that these corporate L1s will not be able to challenge the dominance of Ethereum and Solana. The prediction suggests that while corporations will participate in the crypto economy, they will likely do so by building on existing infrastructure rather than creating new foundational networks.

The prediction from Haseeb Qureshi signals a turning point in how major corporations view digital assets. For years, many Fortune 100 companies have taken a "wait and see" approach to cryptocurrency, largely due to fears of regulatory backlash. Qureshi's forecast suggests that these hesitations will resolve by 2026, leading to active development in the space.

This shift is expected to manifest in the form of consumer-facing products. Rather than simply holding crypto as a treasury asset, these companies are predicted to build functional crypto products for their user bases. The most likely initial product is the crypto wallet, which would allow millions of existing customers to interact with digital assets seamlessly.

Key areas of expected corporate development include:

• Integration of crypto wallets into existing apps
• Payment processing using digital currencies
• Tokenization of loyalty programs and rewards
• Building on top of existing blockchain networks

While Qureshi is bullish on corporate crypto product adoption, he is bearish on corporate attempts to build new blockchains. A Layer 1 (L1) blockchain is the base network, such as Bitcoin or Ethereum, upon which other applications are built. Qureshi believes that Big Tech companies will attempt to launch their own L1s but will face insurmountable challenges.

The primary reason for this predicted failure is the network effect. Ethereum and Solana have spent years building developer communities, liquidity, and security. Qureshi argues that a corporate L1 cannot easily replicate this established value. Users and developers are unlikely to migrate to a corporate-controlled chain when open, decentralized alternatives offer better security and censorship resistance.

Furthermore, corporate L1s face significant centralization concerns. The crypto community generally values decentralization, and a blockchain launched by a major tech conglomerate may be viewed with skepticism. This perception, combined with the technical difficulty of bootstrapping a new ecosystem, creates a high barrier to entry that Qureshi believes will result in failure for these corporate initiatives.

The prediction highlights the resilience of current market leaders. Ethereum and Solana are identified as the networks that will withstand the coming wave of corporate competition. These blockchains have established themselves as the primary platforms for decentralized finance (DeFi) and decentralized applications (dApps).

According to the analysis, these networks are "too entrenched to be challenged." This entrenchment is not just about market capitalization, but about the infrastructure built around them. Thousands of developers, tools, and protocols are deeply integrated with these chains, creating a "moat" that is difficult for new entrants to cross.

Instead of competing directly, Big Tech companies are expected to utilize these networks. They may build applications that run on Ethereum or Solana, or they may use Layer 2 scaling solutions that settle on these base layers. This approach allows corporations to leverage the security and decentralization of established chains while focusing on their own product development.

The forecast provided by Haseeb Qureshi paints a picture of a hybrid future for the crypto industry. In this scenario, the 2026 timeline marks the moment when cryptocurrency becomes a standard feature of major technology platforms. The barrier to entry for the average user will drop significantly as Fortune 100 companies integrate crypto wallets into familiar applications.

However, the underlying infrastructure of the crypto economy will likely remain decentralized. The failure of corporate L1s suggests that the value of blockchain technology lies in its open and permissionless nature. As these predictions unfold, the industry will be watching to see if corporate giants can successfully navigate the complex regulatory and technical landscape of digital assets.