Crypto poured years into new products. The next challenge is keeping users
The cryptocurrency industry is shifting its focus from technological development to user retention and mainstream adoption. Companies like Coinbase and WisdomTree are prioritizing user-friendly financial services and 'magic moments' to encourage long-term platform engagement.
Why it matters
As crypto matures, the ability to transition from niche tech experiments to sustainable, utility-driven financial products is critical for long-term institutional and consumer viability.
That question is becoming more pressing across the industry as crypto moves closer to mainstream finance. Asset managers have tokenized funds, exchanges are expanding into lending, payments and other financial services and blockchain networks are courting institutions. The challenge is no longer just proving these products can be built, but figuring out what will make consumers and institutions choose to use them.
For companies like Coinbase (COIN), that has meant thinking less about the technology itself and more about what customers are trying to do with their money.
“The crypto industry oftentimes in the past was very technology oriented,” said Ben Shen, Coinbase's head of financial services and loyalty products. Products could be heavy on jargon or expose users to the technology running underneath them.
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