By 2030, 65% of the world’s population will own cryptocurrency wallets

Ark Invest, a crypto and fintech investment company, has made bold predictions about digital wallets in a recent analytical report. Experts assume that by 2030, the majority of the world’s population (65%) will use at least one cryptocurrency wallet in their daily routine.

In its Big Ideas 2023 study, Ark Invest found that the global adoption of digital wallets is currently 40%. That is, 3.2 billion users own crypto assets of various sizes. «Billions of customers and millions of cryptocurrency merchants owning crypto wallets can change the economy associated with traditional payment transactions, saving almost $ 50 billion,» the report says.

The financiers emphasized that cash is losing its priority in the time of active implementation of digital technologies in payment services. The analysts cited the example of Nigeria, where the country is actively introducing digital assets into domestic circulation, in particular, the state-owned stablecoin eNaira. However, this is due to Nigeria’s internal problems and hyperinflation.

The firm estimates that over the next 8 years, the number of digital wallet users in the US alone will grow by 7% annually. «Cryptocurrency wallets will allow millions of cryptocurrency sellers to conduct direct transactions with consumers without any financial intermediaries,» Ark Invest emphasizes. The company has predicted that by 2030, closed-loop transactions could account for more than 50% of all digital payments.

As a reminder, at the end of 2022, 20% of the world’s solvent population owned cryptocurrencies, and the number of cryptocurrency wallet users increased by 6%. North America and Asia-Pacific became the leaders in the implementation of digital wallets, with mainland China and Hong Kong being the fastest to adopt advanced crypto trends.