The Top Five Securities and Crypto Trends to Watch in 2025
To thrive in 2025’s highly competitive financial landscape, banks and brokers must proactively engage with five pivotal themes shaping the future of securities and crypto. These trends highlight the technological shifts, evolving investor behaviors, and mounting regulatory demands that offer both obstacles and strategic opportunities.
1. The Rise of Hybrid Securities Distribution
Digitalization in securities distribution is no longer optional—it’s a strategic imperative. With limited resources in physical branches and growing investor preference for digital channels, traditional models face mounting pressure. While digital efficiency is essential, personal engagement remains a vital differentiator.
A hybrid advisory model, blending digital tools with human interaction, is proving effective. Banks can utilize their advisory strengths alongside physical and digital platforms to create a seamless, omnichannel experience. Meanwhile, digital-native players are expanding their footprint by offering tools like guided onboarding and portfolio analytics. Platforms such as Blackrock’s Aladdin Wealth and ImpaQt allow financial institutions to enhance offerings and accelerate growth.
2. Transforming the Securities Value Chain
Investment-as-a-Service (IaaS) providers like lemon.markets and Upvest are disrupting how securities are offered and processed. Through partnerships, these providers enable features like fractional trading while lowering operational costs. Collaborations with companies like Raisin and Revolut illustrate this shift.
Traditional institutions must reassess their internal systems and external partnerships to unlock efficiencies and diversify their product offerings. Embracing IaaS not only reduces costs but also expands their competitive edge in a fast-evolving market.
3. Redefining Pricing and Product Models
The downward pressure on transaction fees continues, driven by zero-fee trading platforms like N26. Yet, many institutions still rely on complex, transaction-heavy fee structures that deter potential clients. The result? Low account penetration and high inactivity.
Some institutions are adapting—Erste Bank in Vienna, for instance, introduced a simplified all-in-one pricing model in late 2024, setting an example for the industry. Additionally, banks need to address the aging investor demographic by appealing to younger segments with tailored, long-term value offerings. Cross-selling opportunities—such as linking savings plans to current accounts—can also boost engagement.
4. The Impending PFOF Ban
With the Payment for Order Flow (PFOF) ban taking effect across Germany by mid-2026, providers must rethink revenue models previously reliant on this structure.
Key responses include:
- Internalization of trading operations (e.g., Scalable Capital’s in-house trading venue),
- New revenue streams (such as subscriptions),
- Cost-saving partnerships to enhance back-end efficiency.
Strategic shifts will be essential to offset the impact of these regulatory changes.
5. Regulatory Shifts: MiCAR and the Travel Rule
Regulations like the Markets in Crypto-Assets Regulation (MiCAR) and the Travel Rule are reshaping the crypto space across the EU. The Travel Rule mandates detailed transaction data, increasing the compliance burden and operating costs. Automation, including AI-driven transaction monitoring, will be key to managing this shift efficiently.
MiCAR’s enforcement introduces a unified legal framework across EU member states, intensifying competition while opening doors for expansion. Crypto brokers must respond with innovative pricing, compelling product offerings, and focused marketing strategies to attract and retain customers in this increasingly regulated environment.
How Bespoke Business Development Can Support Your Strategy
The securities and crypto markets are undergoing rapid transformation in 2025. Institutions that embrace digital distribution, modernize pricing strategies, and view regulatory change as a competitive advantage will lead the pack. The challenge lies in adapting quickly and effectively—those that do will gain an edge in this evolving financial landscape.
The views and opinions expressed in this article are solely those of the authors and do not necessarily reflect those of Bespoke Business Development. They are intended to encourage discussion and reflection, rather than serve as legal, financial, accounting, tax, or professional advice.