EY Predicts Wallets as Central to Future Financial Systems

EY, one of the Big Four accounting firms, has highlighted the evolving role of wallets in the financial ecosystem. According to PANews, EY suggests that wallets are transitioning from mere crypto tools to becoming the core gateway of next-generation financial systems. Analyst Mark Nichols emphasized that wallets will serve as essential infrastructure for storing, transferring, and managing tokenized assets. This evolution will extend beyond cryptocurrencies to encompass payments, stablecoins, and private credit, acting as a unified entry point for all on-chain financial activities. Despite this potential, EY anticipates that self-custody wallets may struggle to become mainstream. The future market is expected to be dominated by trusted wallet service providers, including banks, fintech companies, and specialized custodial institutions.