As digital wallets transition from mere storage solutions to comprehensive financial ecosystems, industry leaders are engaged in a crucial dialogue regarding revenue sustainability, user experience versus security, and strategies to entice the next billion users globally.
On the evening of October 1, SimpleSwap organized an enthusiastic gathering during Token2049 at the Moon Rooftop Bar & Lounge in Singapore. Despite torrential rain and thunder, the storm elevated the atmosphere indoors, attracting over 1,200 participants from prominent entities like Ledger, KuCoin, OKX, Cointelegraph, and Trust Wallet. BeInCrypto served as the event’s official media partner, amplifying the excitement among attendees who relished food, drinks, and two thought-provoking panels that lasted late into the night.
### Panel 1: From Code to Cashflow – How Wallets Are Eating Finance
The first panel featured a lineup of industry experts: Nick DiSisto from Trust Wallet, Ana Jacobson from Tangem, Alex Rem of SimpleSwap, and Vasily S. from SwapSpace. Central to their discussion was the question of revenue models. The consensus was clear — relying solely on transaction fees is not viable for the long run. Vasily pointed to the integration of swaps and cards as potential new revenue streams, while Jacobson cautioned that users have become increasingly expectant of high-value offerings.
The conversation also navigated the topic of real yield in the current financial landscape. DiSisto highlighted its transformative potential for developing economies, noting that the ability to hold value through stablecoins can offer significant returns, particularly when paired with staking opportunities. Jacobson affirmed that demand for yield-generating features among Tangem users is on the rise, while Rem positioned real yield as a long-term mechanism rather than a passing trend.
Balancing user experience with security took center stage as Vasily compared the current landscape to single sign-on solutions like Google, suggesting that many users are willing to sacrifice privacy for convenience. DiSisto emphasized that Trust Wallet aims to lower entry barriers for newcomers, enabling them to earn without extensive protocol knowledge. Jacobson echoed this sentiment, drawing parallels to how user preference often leans toward superior usability, as exemplified by Gmail versus Proton Mail.
As the first session concluded, Rem declared wallets as an “invisible layer” within the financial sphere, merging Web3 speed with fintech reliability. Jacobson countered by stating that wallets are “feeding” finance, disrupting traditional systems through encryption. DiSisto capped the discussion by noting Trust Wallet’s significant milestone of 210 million downloads, asserting that the path to reaching a billion users has just begun.
### Panel 2: Who Wins the Battle for the Next Billion?
The second panel featured Nicky Chalabi from Pelagos Network, Janlo van den Heever of Xverse, and Bassam from Guardian. The panelists largely agreed that mobile apps are critical for onboarding the next billion users. Bassam noted the success of centralized exchanges, which replicate familiar login structures involving email and passwords. Janlo introduced the concept of zero-knowledge logins as a potential game-changer that offers Web2 simplicity without compromising user privacy.
The discussion morphed into the topic of super apps, where Nicky highlighted their inevitability in a multi-chain environment. However, Bassam raised concerns that many super apps prioritize user monetization over genuine service. Janlo added that proprietary stablecoins could create unnecessary friction, as users typically prefer widely accepted options like USDT or USDC.
Emerging markets became a focal point as Janlo shared insights from Latin America and Africa, proclaiming that systems like Western Union, which charge exorbitant fees, could face challenges as stablecoins become mainstream. Nicky emphasized the importance of creating accessible solutions, while Bassam identified regulatory hurdles as a potential stumbling block. Janlo proposed that established retail outlets, such as Oxxo in Mexico, could play a crucial role in user onboarding.
The panel wrapped up by defining what it means to capture the next billion users. Nicky suggested that true success would entail evolving into a “boring business” that is reliable and revenue-generating. Bassam was focused on adoption metrics, while Janlo warned that in finance, success hinges on volume and liquidity, with those aligned closest to Bitcoin’s ethos ultimately leading the way.
### A Night of Insights
What began under stormy skies concluded with sharpened insights about the evolving role of wallets in the financial ecosystem. The panels unanimously underscored that wallets have transcended their status as mere accessories in the crypto space; they are now vital components of the financial landscape. The future of finance will not be dictated by catchy marketing or slogans, but by those who can simplify and enhance trust in financial transactions, making them indispensable in the shifting economies around the globe.
