Toss Insight Publishes Digital Wallet Report: "The Account-Based Financial Paradigm Is Changing"

"Digital Wallets, A New Financial Infrastructure"

Shift from Account-Based to Authority-Based Structure

Toss announced on June 18 that its Financial Management Research Center, Toss Insight, has published a report titled "Digital Wallets: The Starting Point of On-Chain Finance."

Toss Insight determined that there is a need for a systematic analysis of how digital wallets should be designed and developed.

The report defines digital wallets not simply as a means to store virtual assets, but as a new financial infrastructure that manages asset rights and responsibilities, as well as transaction authority.

In particular, the report analyzes that the financial sector is shifting from a traditional account-based structure to an authority-based structure, with digital wallets driving this transformation.

According to the report, digital wallets are rapidly expanding beyond their initial virtual asset storage function to encompass various areas such as payments and remittances, enterprise wallet services, tokenized assets, decentralized services, automation based on artificial intelligence (AI) agents, and identity and qualification verification.

Accordingly, the report explains that rather than a single wallet structure covering all services, different structures are needed depending on the business objective.

To provide this analysis, Toss Insight divided digital wallet design into four axes: technical structure, control structure, liability structure, and usability structure, and based on these, presented six basic types along with one combined operational model.

Additionally, the report analyzed global case studies of major companies such as Coinbase, Stripe, PayPal, Revolut, BlackRock, and JPMorgan, summarizing the wallet structures and operational methods suitable for each business area.

The report also analyzed major failure cases such as Mt. Gox, FTX, and Celsius, identifying the risks that arise when asset control and liability structures are poorly designed.

Based on these findings, the report presents decision-making criteria and step-by-step implementation guidelines to help businesses choose the appropriate wallet structure according to their starting point and business goals.

Hyunman Kim, Head of Strategy Consulting at Toss Insight, stated, "Digital wallets will emerge as the core infrastructure connecting all financial services," adding, "I hope this report will serve as a practical reference for companies developing digital wallet business strategies."

This content was produced with the assistance of AI translation services.