Wallets are quietly turning into banks. I've been paying attention to this change for a long time, and honestly, the progress has been so rapid that it's a bit surprising.

By the end of 2025, several projects in the market will have quietly achieved a breakthrough — directly converting crypto assets into spendable money while completely bypassing centralized exchanges. Players like Superform, Veera, and Tria are no longer just "crypto wallets." They are actually building banking infrastructure.

Just look at the data to understand. By November last year, Tria's daily trading volume had surpassed $1 million, with over 150,000 users, and an annualized revenue of around $20 million. Veera has expanded to 108 countries, with a user base in the 4 million range. Over the past six months, Superform's total locked assets have more than tripled, now standing at $144 million.

This is not just DeFi hype. It’s a real migration of underlying infrastructure — everyone sensed it, but no one expected it to come so quickly.

So, what exactly is this "on-chain bank"?