Cryptocurrency executives argue that younger, digital‑native generations may bypass traditional bank accounts entirely, relying instead on wallets, stablecoins, and decentralized finance.
Steakhouse Financial co‑founder Adrian Cachinero believes digital‑native generations will depend less on banks, while Binance notes that younger users are already fueling crypto adoption across emerging markets.
What the Experts Have to Say
Adrian Cachinero said that his 18-month-old daughter may grow up thinking about money and bank accounts differently than previous generations. In an interview with CoinDesk, he said “My daughter, she’s one and a half years old, and I think she might never need to open a bank account in her life.”
He clarified that banks will not disappear. In his view, a generation raised in a digital-first environment will expect financial services such as payments and savings to operate online.
Naveen Mallela, Standard Chartered’s Global Head of Payments, also believes people will eventually rely on an identity-based e-wallet replacing separate bank and brokerage accounts.
Mallela noted that stablecoins could increasingly be used for everyday payments and money transfers, while tokenized deposits may become more central to wholesale and institutional dealings.
Most cross-border transactions still flow through bank accounts. Stablecoins enable instant wallet-to-wallet transfers anytime, but delays arise when funds must be settled into a traditional bank account, he added.
Meanwhile, Binance is seeing younger users in its emerging markets. Shunyet Jan, Binance’s head of Exchange and Trading, said that the company aims to expand beyond crypto trading into a super app offering payments and financial services in one place.
Banks, fintechs, and crypto firms are increasingly overlapping. Banks add crypto trading, while exchanges provide cards, payments, and tokenized assets.
Jan highlighted that everyone is moving into each other’s territory, with the shared vision of a super app that merges diverse financial services.
Eneko Knorr, co-founder and CEO, Stabolut, pointed out that traditional finance and crypto platforms are converging, with banks offering crypto services and crypto platforms providing traditional banking functions.
He added that while daily life still requires standard bank transfers for things like rent, younger customers may prefer apps that combine stablecoins with everyday banking.
Rohan Misra of AMINA Bank also emphasized that stablecoins are gaining traction for payments and settlement but still rely on regulated banking infrastructure, since a wallet alone isn’t a bank account. He also raised concerns about self-custody, warning that losing access to private keys could mean losing assets permanently, likening it to keeping cash under a mattress.
Statistics and the Evolving Banking Viewpoint
Apparently, the shift is expanding.
In the past month alone, Visa’s stablecoins tracked 132 million small transactions worth about $6.6 billion in total. Standard Chartered expects stablecoins to grow massively, reaching around $2 trillion by 2028.
E-commerce is also shifting, with agent-led purchases expected to jump from just 1% in 2025 to 12% by 2029. Meanwhile, neobanks are already opening nearly 40% of new accounts globally and serving more than 1.4 billion users.
Globally, stablecoins are gaining traction for payments, yet they still depend on regulated banking infrastructure to connect with the wider economy. At the same time, relying solely on private key control exposes users to permanent asset loss if access is stolen or misplaced.
Through alignment with modern finance’s evolving demands, a strong regulatory framework and enhanced security measures can close existing gaps, ultimately shaping the global outlook toward a safer, more inclusive, and resilient digital financial ecosystem
