EY: Wallets to Become Core Entry Point for Next-Gen Finance, Controlling Wallets Means Controlling Customer Relationships

Odaily News One of the Big Four accounting firms, Ernst & Young (EY), stated that wallets are evolving from crypto tools into the core entry point for the next generation of financial systems. It pointed out that "the wallet itself is the strategy; whoever controls the wallet controls the customer relationship." EY analyst Mark Nichols noted that wallets will become key infrastructure for storing, transferring, and managing tokenized assets. In the future, they will not only be applicable to crypto assets but will also cover on-chain financial scenarios such as payments, stablecoins, and private credit, becoming a unified entry point connecting all on-chain financial activities including payments, tokenized assets, and stablecoins. However, EY expects self-custody wallets will struggle to become mainstream, and the future market will be dominated by trusted wallet service providers such as banks, fintech companies, and professional custodial institutions. (CoinDesk)