Reported 7 months ago
Cathie Wood, CEO of Ark Invest, believes the digital wallet industry will consolidate and the market is a 'winner-take-most' opportunity. She sees the potential for one entity to dominate the industry, similar to WeChat Pay in China, which offers a range of financial services. With the rise of digital wallets over traditional banking, Wood and Coinbase's CEO predict a future where phones become interchangeable with wallets, offering a single financial account for all transactions and payments.
Source: YAHOO