Best Wallet Interest Rises as JPMorgan and Citigroup Bet on $3.7T Stablecoin Future

Crypto adoption among traditional banks is growing as Citigroup predicts the stablecoin market will be valued at $3.7T by 2030.Keywords: best wallet grows as jpmorgan and citigroup bet on $3.7T stablecoin future

The largest bank in the United States is increasing its involvement in digital coins despite its CEO’s skepticism about their utility.

With traditional banks beginning to realize that cryptocurrencies are the future, non-custodial crypto wallets such as Best Wallet stand to gain the most traction in the coming years.

Below, we’ll expand on these developments and why a wallet like Best Wallet may prove among the most popular solutions when more people look for secure ways to store their digital assets.

Traditional Banks Taking Slow But Steady Steps Toward Crypto Adoption

JPMorgan Chase CEO, Jamie Dimon, said in the bank’s second quarter earnings call yesterday that it’s going to be involved in ‘both JPMorgan deposit coin and stablecoins to understand it, to be good at it.’

But while the executive thinks these coins are real, he said he doesn’t understand why one would use a stablecoin, ‘as opposed to just payment.’

Regardless of the skeptical tone, this move can be seen as yet another small but important step toward broader acceptance of crypto among traditional banks.

Aside from JPMorgan, Citibank is also looking into stablecoins and might launch its own token, according to Citigroup CEO Jane Fraser.

In addition to stablecoins and tokens, Fraser said that the bank is also considering stablecoin reserve management and crypto asset custody services.

Citibank researchers predict that the stablecoin market will be worth $3.7T by 2030, which explains the bank’s increased interest in digital assets.

Of course, these developments come as the US government is in the middle of ‘Crypto Week’ that aims to pass crypto-related laws.

Meanwhile, the US Fed, FDIC, and OCC released a joint statement on Monday that allows the country’s banks to provide crypto safekeeping services.

With greater clarity in the area of digital assets through legislation, we expect adoption of these assets to accelerate in the coming years, and with it, the need for a crypto wallet.

Greater Crypto Adoption = A Growing Need for a Secure Wallet

As traditional banks begin to embrace digital assets, it won’t be long before regular individuals with no prior crypto background start holding cryptocurrencies too.

A survey conducted by crypto exchange Gemini revealed growing crypto ownership worldwide. In the UK alone, 24% of respondents said they have crypto investments compared to 18% in 2024.

This growth emphasizes the need for a secure crypto wallet where individuals can store their digital assets.

But aside from security, ease-of-use is of paramount concern too, as people may prefer to use crypto even for their daily transactions.

Best Wallet Adoption is Among Those on the Rise

With more people investing in crypto, one wallet that stands to gain serious traction is Best Wallet — we’re already seeing this, and not only because it’s free.

It’s a non-custodial crypto wallet, which means only you have access to your wallet’s private keys.

The security of these keys is extremely important, as you need them to approve your transactions and prove ownership of your crypto.

Therefore, having sole control over your private keys is typically preferable over handing them over to your bank, exchange, or other financial institution.

Best Wallet also excels in user-friendliness. Simply install it on your iOS or Android device, follow the instructions, and you’ll have a secure crypto wallet set up in a matter of minutes.

Since your wallet is on your device, this eliminates the need to carry a separate hardware device or card to transact with your crypto in the real world.

You can get even more benefits from the wallet when you hold its native token, $BEST, including governance rights, low transaction fees, and early access to cheap crypto presales.

One token is currently available for only $0.025335. Just connect your wallet to the presale widget, key in how many tokens you want to buy, and pay with your credit/debit card or crypto. For a detailed guide, here’s how to buy $BEST tokens.

Staking is also a great option if you want to earn passive rewards from your investment. The reward rate is 98% p.a., although this will change as more tokens are locked in the staking pool.

There’s No Delaying the Future of Crypto

It’s good news that traditional banks are finally realizing that digital assets are the future. With large banks like JPMorgan and Citibank leading the way, smaller players worldwide will naturally follow.

It’s still unclear how soon these banks will fully go all in on crypto, but when they do, adoption among their clients who aren’t familiar with crypto will happen.

These individuals will then need a secure wallet to store their digital assets. Best Wallet, powered by Best Wallet Token ($BEST), is one of the most compelling crypto storage options out there with its top-notch security and ease of use.

Disclaimer: Before you invest in crypto, do your own research first. This is not financial advice.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.