"“Non-custodial wallets, given the relative ease of expanding access to onchain instruments across ecosystems, are uncommonly well-positioned to do this quickly,” said Subramanian, who expressed optimism that the likes of MetaMask and Exodus will become the primary gateway to the financial system for a growing number of people."
"“This all represents a major evolution from the first decade of wallet development. Back then, devs built their products for specific tokens, and it was big news if they added other ones. Today, features like fiat off-ramps, physical debit cards, and access to networks like Visa are table stakes for any wallet to be competitive.”"
"“An executive close to MetaMask, which first made its name as an Ethereum wallet, recently described the brand to me as a neobank-a term popularized by fintech players like Revolut and Chime. Soon after, I put this notion to JP Richardson, a Bitcoin OG who founded the elegant Exodus wallet. He just nodded, and recounted how his own company has added a card service that lets users pay anywhere using the Visa network.”"
Wallet brands originally focused on holding specific crypto assets through token-specific software. Wallet development has expanded into services that support fiat off-ramps, physical debit cards, and payments through major networks like Visa. MetaMask and Exodus are positioning themselves beyond simple storage, with MetaMask described as a neobank and Exodus adding a card service for payments anywhere on Visa. Wallet infrastructure providers view non-custodial wallets as well positioned to expand access across ecosystems and quickly become primary gateways to the financial system. Competition centers on owning distribution and maintaining direct consumer relationships alongside exchanges, fintechs, and banks.
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