Ethereum Wallet ImToken Has $35B in Deposits, More Than 99% of US Banks

[GameOfCoins]

China-based ImToken, one of the first cryptocurrency and Ethereum wallets to be listed on the Apple App Store, has processed more than $35 billion in deposits over the past few years, surpassing Coinbase.

Similar to Blockchain, MyEtherWallet, and MyCrypto, ImToken is a free and non-custodial wallet that enables users to store, send, and receive cryptocurrencies such as Ethereum while maintaining full control over their private keys and accounts.

In the early days of Ethereum, prior to the creation of popular wallets such as MyEtherWallet and MetaMask, ImToken was the only reliable mobile wallet users could utilize on mobile devices. The first-mover advantage of ImToken and the app’s simplicity led the platform to settle over $35 billion in deposits, an amount that is larger than 99 percent of the banks in the US.

In May, Bloomberg reported that Xapo, which has processed over $10 billion in deposits over the past three years, has more money stored in its vaults than 5,670 banks in the US, or 98 percent of the banks in the country. $35 billion worth of deposits in Ether and other cryptocurrencies would place ImToken in the top 0.5 percent, along with major banks and financial institutions.


https://themerkle.com/ethereum-wallet-i ... -us-banks/