TrustWallet Turns Profits, Adds Solana, Targets 1B Users

Eowyn Chen, CEO of TrustWallet, sat down for an interview during Token2049 Singapore at the main event venue. She leads one of the crypto industry’s most-used wallets globally with millions of active users. Her vision extends beyond crypto-native users to compete with traditional fintech giants like PayPal and Revolut.

Chen shared TrustWallet’s transformation from losing eight-digit dollars annually to achieving eight-digit profits in 2024. She discussed ambitious plans, including the Trust Moon accelerator, advanced security measures, and strategic blockchain integrations. She exclusively revealed TrustWallet’s upcoming Solana support—the first account abstraction feature on non-EVM chains.

TrustWallet recently unveiled a bold new roadmap to onboard 1 billion users by 2030. Could you elaborate on the core strategies or products to achieve this goal?

The core goal to make this achievable is to take on bigger challenges. For the next five to ten years, we’re going to compete not just in the crypto world but with the FinTech world—meaning I’m no longer looking at MetaMask or Phantom as competitors, but I’m looking at PayPal and Revolut. That will be the following territory for us as a crypto retail product. Once we enter that kind of competition and territory, it will be a one-billion-user-based competition and opportunity.

With the Trust Moon Web3 accelerator launch in partnership with Binance’s YZi Labs and AWS, how does TrustWallet plan to foster new developer and ecosystem innovations? What role do partnerships play in this strategy?

Partnerships are very, very important. YZi Labs, Binance, Plasm Chain, and different chain ecosystem partners, even AWS—all our partners, because we serve projects in various ways. AWS services from the cloud and database aspects. But as a wallet, we’re the last mile for a project to test their product market fit and community acceptance with the users. It takes a village to raise a child. We’re trying to take a village in the crypto industry to raise a project so they can grow better. For TrustWallet, we give them the last mile user-facing guidance and platforms—the showroom where they can do a show. We’re pursuing expanding the partnership of the TrustWallet accelerator.

TrustWallet’s recent security upgrades, like advanced scam detection and transaction filters, set a new standard for wallet protection. What impact have these measures had, and how does security shape your product vision?

Security is always the foundation. When security breaks, people feel the pain and leave. The key has been to educate users and make the right decision—bringing users along so they know what they’re doing to prevent mistakes that fall into scams or hacks. Those prevented about 460 million tokens sent to scammers year to date so far. People don’t know that the majority of money lost was more to scams, so it’s about helping everybody be more securely aware in an easily understandable, informed way. For example, clear signing means people can understand what they are interacting with—you’re sending to A and giving them unlimited access—so people can make informed decisions. The token page shows what security providers say about risks in green, orange, and red related to concentration or contract issues.

TrustWallet now supports over 100 blockchains, including many non-EVM chains. How has your approach to blockchain integration evolved, and how do you balance breadth versus depth in such a multi-chain environment?

We used to take a broader strategy—whenever chains came in, we integrated with them. That was the assumption between 2019 and 2023. But now it’s different. It’s tough for any new chain to be the next general-purpose Ethereum or Solana anymore—they need to figure out their product market fit strategy earlier to go niche. We learned from integrating with 100 chains, and 90 of them don’t have traction or die. Now it’s no longer just “as many as possible.” We will start to select and pick what we think will ultimately interest users and might likely have a success rate.

TrustWallet’s business has transformed dramatically—from significant losses in 2022-2023 to 8-digit profits in 2024. How did you make this shift happen, and what does this mean for TrustWallet’s future?

When I first joined in 2022, we lost 8-digit dollars per year. The strategy was all about user growth, trying to grow as big as possible. But, for a business, it was like, hey, we got a sugar daddy that will fund us, and then we need to grow bigger to become teenagers. It’s like raising a kid—when they become teenagers, you teach them how to stand on their own feet, make better decisions, and survive. Between 2022 and 2023, it was about how we transition from the teenage years to be ready to leave. In 2024, we earned 8-digit profits in USD values. That’s why we can comfortably say TrustWallet is a great player in the Binance BNB Chain ecosystem.

In June 2025, TrustWallet introduced tokenized US stock and ETF trading via a partnership with Ondo Finance. How does this fit your vision for a versatile, all-in-one crypto wallet platform, and what have you learned from this experiment so far?

The thesis is pretty simple: if blockchain is ultimately the financial infrastructure, it doesn’t matter if it’s initially crypto or traditional financial assets. If it has value, how can you use the blockchain infrastructure to be more efficient, effective, and accessible? I’d rather trust that TrustWallet as a platform gives people new opportunities at the forefront and allows projects to test if they can have the product-market fit.

You recently announced a new roadmap with TWT playing an integral role. What’s your vision for wallet tokens, especially as competitors like MetaMask and Rabby introduce their own tokens?

Two weeks ago, we announced the new roadmap, and TWT will play an integral part in tying all the features together. The next day, Joe Lubin was leaking that MetaMask will have a token, and Rabby was teasing that they will have a token in Q4. We will start a new wallet era, potentially leading with different tokens. Traditionally, wallets are seen as tools, and not many industries can do decentralized front-end products with effective tokenomics. It would be interesting to experiment with how to merge Web2 loyalty reward programs with Web3 stakeholder interests and benefits. We will soon support Solana, the first account abstraction feature on non-EVMs.