Mizuho analyst Dan Dolev warned clients that 2026 will be shaped by six inter‑linked themes across fintech, payments and crypto. He cited lower interest rates as the first catalyst, expecting relief for processors, lenders and BNPL platforms as funding costs fall. Political moves such as President Trump’s proposed 10 % APR cap add volatility.

The second theme focuses on crypto divergence, where clearer regulation pushes Bitcoin’s volatility apart from rapidly expanding USD‑backed stablecoins, which could dominate everyday transactions. Prediction markets emerge as a third growth engine, with early leaders like GEMI gaining traction. Consumer lending forms a fourth pillar as borrowing demand rebounds and charge‑offs stabilize.

Legacy processors and an IT services renaissance complete Mizuho’s view, as the bank flags “unloved” firms with solid fundamentals and anticipates rising tech spend to boost rating agencies. Market participants will watch how the APR cap, stablecoin uptake and prediction‑market growth reshape earnings for fintech and crypto players in 2026.