As global stock markets continue to decline, investors are being forced to reconsider where their attention should go. While equities struggle to regain footing, the FX and crypto markets have stayed active, offering an alternative path for those building financial technology.

The Dow Jones dropped more than 4,000 points over two trading days last week. The S&P 500 and Nasdaq also posted steep declines. For fintech firms supporting trading infrastructure, this slowdown in equity activity has real consequences, which are fewer active users, less volume, and reduced demand for new tools.

Bilal Khaled, Director of Trading at D24 Fintech Group, said: “Markets move in cycles, but what we’re seeing now is more than just a price drop. There’s been a clear loss of momentum in the traditional space. When that happens, people don’t just stop trading altogether, they look for other markets.

“Unlike equities, FX markets have remained steady. Daily trading volumes hover around $7 trillion, and interest from retail and institutional participants continues. Cryptocurrency markets, while volatile, also remain active and accessible, especially as global investors look for options outside traditional systems.

“FX isn’t exciting, but it’s consistent. Crypto is unpredictable, but it doesn’t sleep. That makes them both attractive when the stock market gets quiet.”

The recent tariff announcements out of the U.S. have added pressure to an already fragile global outlook, fueling uncertainty across traditional exchanges. But in FX and crypto, volatility is part of the model, and systems are designed to keep moving, regardless of macro headlines.

Khaled believes this resilience is drawing the attention of both traders and the companies that build for them. “When one market slows down, you don’t just wait for it to recover, you ask where the activity is, and whether you can shift your focus to meet it. Right now, that activity isn’t in equities, it’s in markets that are still open and moving.

“This isn’t just about opportunity; it’s also about necessity. Fintech builders who rely on active markets need to stay close to where trades are happening, and in 2025, that may mean pulling attention away from equities, at least for now. Everyone expects the stock market to pull back, but if you’re building tools, you can’t afford to sit still while it does.

“As the dust settles around equity markets, there’s a growing sense that the center of financial innovation might be shifting. Not permanently, but enough to make investors take notice,” concluded Khaled.