Ernst & Young (EY) has highlighted the evolving role of digital wallets, predicting they will transition from mere crypto tools to central financial gateways. According to EY, wallets will become crucial infrastructure for managing tokenized assets, payments, and stablecoins, effectively replacing traditional bank accounts in controlling customer relationships. Analyst Mark Nichols emphasized that wallets will serve as a unified entry point for all on-chain financial activities. Despite this evolution, EY anticipates that self-custodied wallets will struggle to gain mainstream adoption. Instead, the market is expected to be dominated by trusted wallet service providers, including banks, fintech companies, and professional custody institutions, which will play a pivotal role in the future financial ecosystem.