FINANCIAL SERVICES
Combining this with easily adaptable , APIaccessible wallet management systems , customers will experience a betterintegrated digital payment model all within one single platform .”
Indeed , the rise of cryptocurrencies is one of the most hotly tipped frontiers in the application of digital wallets . Trading in these non-tangible currencies has increased steadily over the last 10 years – Bitcoin for example has risen from $ 1 in 2011 to more than $ 42,000 today . And there ’ s still evidence to suggest that crypto is ripe for future growth .
“ What ’ s different today is the extent of institutional interest , coupled with very strong demand across the wealth management franchise ,” wrote Mathew McDermott , Global Head of Digital Assets at Goldman Sachs , in a report published by the company last May . “ The product offering is broader as people are looking beyond Bitcoin at the potential of the underlying blockchain infrastructure to transform the way markets behave . This has sparked interest in other kinds of cryptocurrencies … whose value proposition revolves more around what else can be done on blockchains .”
What does the future look like for digital wallets ? According to UK-based Juniper Research , the number of unique digital wallet users is predicted to grow from 2.6 billion to 4.4 billion by 2025 . Markets such as the UK and US will lag behind China and India in terms of digital wallet adoption , with China and India expected to account for nearly 70 % of digital wallet transactions .
“ WHEN WORKING WITH TRADITIONAL BANKS , OPENING AN INTERNATIONAL BANK ACCOUNT IS A DIFFICULT , LONG AND PAINFUL PROCESS ”
LAURENT DESCOUT CEO , NEO
66 May 2022