EY, one of the world’s top consulting firms, says that the next big step in money is the wallet. It isn’t just a place to keep crypto; it will become the main way people and companies move, store, and use digital money. The firm’s experts argue that whoever controls the wallet will also control how customers feel about their financial services.

The idea is simple: a wallet can handle everything from everyday payments to complex tokenized investments. Big banks, asset managers, and even small businesses will need wallets that link to risk checks, compliance rules, and real‑time cash flow. If a firm can build or partner with a wallet provider, it can keep customers longer and reduce the cost of bringing in new users.

EY’s view goes beyond just liquidity. Tokenized assets on blockchains can settle instantly, cut down the need for large margins, and free up capital for new projects. This means better risk management and faster access to funds. The wallet is the door through which all these benefits flow.

The consulting firm has been involved in crypto for over a decade. It helped hedge funds, banks, and exchanges understand taxes, compliance, and how to launch tokenized products. EY has developed tools for wallet monitoring and on‑chain compliance that help traditional institutions stay safe while they grow their digital offerings.

Different customers need different wallets. Consumers want a smooth, secure experience for payments and crypto. Corporations need tools that fit into their treasury systems and meet global regulations. Institutional investors look for custody, access to decentralized finance, and built‑in risk controls. Most people will not want to manage their own private keys; they prefer trusted providers that can handle security and compliance.

Regulation is not a barrier, according to EY. In many countries there are already laws that cover securities and commodities, so tokenized products can be launched legally. New rules are still being written, but the momentum is strong and the industry is moving from testing to real implementation.

In asset management, tokenization can replace many middlemen. Smart contracts could automate distribution, compliance, and reporting, cutting costs and opening up investment opportunities to more people. This could lower fees for investors and let managers create new products, especially in private credit and alternative assets.

If companies ignore wallets, they risk falling behind. Embracing wallet technology will give them control over the core of digital finance and keep customers engaged.

Future Finance: Why Owning the Wallet Beats Owning a Bank Account

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