Stablecoin Wallets Eye Bank Accounts' Turf as Competition Intensifies

Stablecoin wallets are increasingly being seen as capable of taking over some functions traditionally served by bank accounts.

CoinDesk reported on September 7 that global consulting firm Bain said in a recent report that traditional banks' share of total financial-sector revenue will decline to 69% by 2030 from 80% now.

Industry participants say stablecoin wallets are most likely to replace the payments function of bank accounts before savings and credit. That is because stablecoins allow users to store and transfer digital dollars without being limited by banking hours or national borders.

Still, some in the industry expect the boundary between the two services to blur rather than stablecoin wallets fully replacing bank accounts. Ran Goldi, senior vice president of payments at Fireblocks, said banks will begin issuing tokenized deposits that can interoperate with stablecoins. In his view, bank accounts themselves are more likely to evolve into programmable forms than be replaced outright by stablecoins.

A 2026 survey by BVNK found that 77% of digital-asset users would rather open a stablecoin wallet through their existing bank or a fintech firm than manage one directly.

Marcin Kazmierczak, co-founder of RedStone, said bank accounts bundle three functions: payments, savings and credit. Stablecoin wallets have already proved competitive in some payment markets where costs are high and processes are complex.