Wallets, Super Apps, and the Next Billion: Insights from SimpleSwap’s Token2049 Side Event

As digital wallets evolve from simple storage tools into financial ecosystems, industry leaders are debating how these platforms will sustain revenue, balance user experience with security, and capture the next billion users worldwide. 

On the evening of October 1, SimpleSwap hosted a lively gathering during Token2049 in Moon Rooftop Bar & Lounge Pte. Ltd., Singapore, amid a torrential downpour and crackling thunder. Yet the storm only amplified the energy indoors. Over 1,200 requests to attend poured in, filling the venue with guests from Ledger, KuCoin, OKX, Cointelegraph, Trust Wallet, Tangem, and many others — with BeInCrypto serving as the official media partner. In a warm, buzzing atmosphere, guests enjoyed food, drinks, and two engaging panels that stretched late into the night.

Panel 1: From Code to Cashflow – How Wallets Are Eating Finance

The first panel brought together Nick DiSisto (Trust Wallet), Ana Jacobson (Tangem), Alex Rem (SimpleSwap), and Vasily S. (SwapSpace).

On revenue models, panelists agreed that transaction fees alone are not sustainable. Vasily S. pointed to wallets integrating swaps and cards as new revenue streams. Jacobson warned that users have become “spoiled,” expecting ever more value, while DiSisto argued that inefficiencies like slippage and gas fees are the real pain points, not base fees.

The discussion turned to real yield. DiSisto stressed its role in developing economies where inflation erodes savings: “Holding dollars through stablecoins can be a 20% gain on its own—add staking, and it’s life-changing.” Jacobson confirmed that Tangem users increasingly ask for yield-generating features, while Rem framed real yield as a durable mechanism rather than hype.

On UX versus security, Vasily S. compared it to single sign-on with Google—most users will trade privacy for convenience. DiSisto noted Trust Wallet lowers barriers for newcomers, helping them earn without researching protocols. Jacobson added that, like Gmail vs Proton Mail, “users pick the better product, not necessarily the safest one.”

“We’re not just an exchange, we’re infrastructure for partners who want to give their users a smooth financial experience.” – Alex Rem, SimpleSwap

As the session closed, Rem called wallets the “invisible layer” of finance where code turns into cashflow, giving users both – Web3 speed and fintech reliability, while Jacobson countered that wallets are “feeding” finance, reshaping traditional systems in encrypted form. DiSisto concluded with TrustWallet’s milestone of 210 million downloads: the path to a billion, he argued, has only begun.

Panel 2: Who Wins the Battle for the Next Billion?

The second panel featured Nicky Chalabi (Pelagos Network), Janlo van den Heever (Xverse), and Bassam (Guardian).

When asked which interface will onboard the next billion, all pointed to mobile apps. Bassam explained that centralized exchanges thrive because they mimic familiar email-and-password logins. Janlo predicted that zero-knowledge logins could act as a Trojan horse—offering Web2 simplicity without data sharing. Nicky agreed that users shouldn’t need to know what chain they are on.

The conversation moved to super apps. Nicky argued they are inevitable in a multi-chain world, while Bassam warned that many are built to monetize users rather than serve them. Janlo added that proprietary stablecoins often create friction, since users still prefer USDT or USDC.

Emerging markets were another focal point. Drawing on experience in Latin America and Africa, Janlo said: “Western Union takes 30%—that won’t last long once stablecoins scale.” Nicky emphasized the need for accessible solutions, while Bassam flagged regulation as the biggest risk. Janlo suggested that trusted retail outlets like Oxxo in Mexico could play a decisive role in onboarding.

Finally, panelists defined what it means to win the next billion users. Nicky said success means becoming a “boring business”—reliable, revenue-generating, and sticky. Bassam looked to raw adoption numbers. Janlo countered that in finance, volume and liquidity always decide the winners, and those staying closest to Bitcoin’s ethos will ultimately prevail.

A Night of Insights

What began under storm clouds ended with hard-edged clarity. The panels made one thing clear: wallets are no longer accessories in crypto, they are the front lines of finance. Whether they “eat” or “feed” the system, they are shaping how money moves in economies under pressure, and how the next billion users will arrive. The battle will not be won by the slickest slogans or the biggest marketing budgets, but by whoever can make finance simple, trustworthy, and impossible to ignore.