OKX founder Star Xu shared a bold insight during a speech on Dec. 4, marking the one-year anniversary of OKX receiving its Dubai license. He emphasized that the post-2000 generation, often referred to as Generation Z, may consider crypto wallets to be more secure than banks.
Xu believes that younger users may consider cryptocurrency exchange wallets as a more reliable way to store assets compared to traditional investments such as gold. This marks a shift in the way the next generation approaches wealth and financial security.
Governments are also paying attention
Xu also noted that governments are beginning to understand this trend. The policy is designed to appeal to young investors who are comfortable with digital finance. He said this shows a growing recognition that technology-driven finance is reshaping markets.
These changes represent a huge opportunity for crypto and fintech companies. As governments adapt, the environment becomes more favorable for digital financial innovation.
A new era of technology vs. finance
Mr. Xu warned that there could be major competition between technology and finance over the next decade. Traditional banks and financial institutions may have to compete with emerging Web3 platforms to attract younger users.
He predicts that over the next five to 10 years, major cryptocurrency companies could grow into multibillion- or even trillion-dollar fintech behemoths. Growth in digital wallets, decentralized finance and blockchain-based applications will be key drivers.
Why is Gen Z important?
The post-2000 generation is tech-savvy and comfortable with digital assets. Mr. Xu emphasized that their preferences will shape the future of finance.
Unlike older generations, younger users are less tied to traditional banks. They are more likely to trust secure cryptocurrency wallets, try new financial tools, and quickly adopt Web3 technology. This makes them a powerful force in the market.
Gen Z’s influence on Web3 innovation
Xu's message emphasizes that the rise of Web3 is not just about technology, but also about culture and generational change. Companies that cater to younger users with safe and user-friendly platforms are more likely to succeed.
The next decade could see a new wave of fintech giants emerge from the crypto ecosystem, driven by Gen Z's willingness to embrace innovation. For investors and technology leaders alike, understanding these trends is key to staying ahead in the rapidly evolving world of digital finance.
