EY Report: Companies Must Control Crypto Wallets to Retain Customers in Digital Economy

A new report from global consulting giant Ernst & Young (EY) delivers a stark warning to traditional businesses: adapt to the crypto revolution or risk losing your customer base. The analysis emphasizes that in the emerging digital economy, controlling the customer relationship will increasingly mean controlling their digital wallet, not just their bank account details. EY experts argue that as digital assets and blockchain technology become mainstream, the point of interaction and value exchange is shifting. Companies that fail to integrate digital wallet functionality and offer crypto-native services may find themselves disintermediated. The future competitive edge, according to the report, lies in owning the entire customer journey, which now includes managing digital identity and assets on-chain. This move is crucial for fostering loyalty and capturing value in Web3 ecosystems.