Simone Maini (Elliptic) & Jay Wilson (AlbionVC): From Hype to Infrastructure? Crypto’s Second Act

In this episode of the European VC podcast, hosts explore the maturing landscape of digital assets, focusing on the transition from speculative hype to foundational infrastructure. Simone Maini, CEO of Elliptic, and Jay Wilson, partner at Albion VC, discuss how regulatory clarity—such as the EU’s MiCA, the US’s GENIUS Act, and the UAE’s dedicated digital asset regulator—has transformed the industry from a realm of uncertainty into one of quantifiable risk. Elliptic’s growth, including a Series D round and expansion into the UAE and Singapore, reflects the global shift toward regulated digital asset hubs. The conversation highlights a pivotal shift: crypto is no longer a consumer-driven movement but an institutional infrastructure play, with stablecoins now powering 70-80% of trading volume through automated, agentic systems. Founders and investors alike emphasize the importance of emotional support, clear boardroom dynamics, and early alignment on incentives to navigate the volatility of the sector. The future, they argue, lies in seamless integration of on-chain and off-chain systems, with risk management, compliance, and governance tools becoming essential enablers of mainstream adoption. Key takeaways include: (1) Regulatory progress has made crypto infrastructure viable and investable, shifting focus from belief in the technology to confidence in execution; (2) The next wave of innovation lies in abstraction—making stablecoins and on-chain payments invisible to users; (3) Founders must prioritize early and frequent communication with investors, especially during downturns; (4) Investors must act as emotional anchors and strategic advisors, not just capital providers; (5) The most advanced institutions are unifying risk evaluation across fiat and digital assets, but 90% of organizations are still siloed; (6) Agentic trading is already dominant in stablecoin markets, signaling a reversal from crypto’s original consumer-first roots; (7) Success requires balancing innovation with institutional caution; (8) The future is not about fanfare but about building robust, interoperable infrastructure that enables trust at scale.