CRYPTO

Riccardo Tordera : As more continue to use crypto for everything from investment to day-to-day payments more people will need wallets . In addition , with greater use of stablecoins and CBDCs by then , there will be wider use of digital currencies and hence greater uptake for digital wallets .

Kate Leaman : The crypto wallet market is set to skyrocket in the next few years . It ’ s all thanks to the growing popularity of cryptocurrencies as a preferred way to invest and make payments . As more and more people jump on the crypto bandwagon , they need trustworthy and secure digital wallets to handle their digital assets .

On top of that , businesses are starting to accept cryptocurrencies as a form of payment , which means there ’ s a real need for user-friendly wallets that make these transactions smooth and hassle-free . Crypto wallets in Asian markets , namely India ( CAGR 12.3 % by 2033 ) and China ( CAGR 8.3 % by 2033 ), are expected to grow substantially .

Martin Masser : A major driver is the increase in the acceptance and use of cryptocurrencies . As awareness and understanding of digital currencies rise , more people are embracing the use of crypto wallets for transactions . Secondly , the global use of cryptocurrencies is propelling demand for the key functionalities crypto wallets offer , such as convenience and security . This , in turn , is attracting more users to the digital wallet market as customers seek to find reliable and suitable methods of transaction .

Daniel Fogg : Wallets are the gateway to blockchains and assets , so as the adoption of blockchain technology continues to grow , the wallet market will follow . Wallets are currently the heart of the crypto experience : everything individuals do to interact with crypto happens through them .

I ’ d say that the figure of US $ 3.675bn feels quite low , considering the amount of development taking place in the space right now . Many wallets are making revenue from the on-ramp and off-ramp fees , integrating dApps , or even receiving fees for listing certain tokens . There ’ s also an increasing number of multi-signature wallet solutions designed for enterprise crypto treasury management gaining adoption .

Another interesting area of wallet growth is solutions built for traditional fintechs looking to create new products on crypto rails . These include paid subscription products such as Alpha Wallet and free open-source modular solutions like RIF Wallet .

With all this going on I ’ m surprised the figures aren ’ t predicted to be bigger by 2033 . fintechmagazine . com 97