Crypto’s ‘super App’ Race Is On As Industry Enters Aggregation Era:...

According to Delphi Digital, Crypto exchanges are racing to become the home screen for trading, payments and Web3.

According to a new report from Delphi Digital, crypto platforms are quietly morphing into distribution layers for everything from trading and payments to onchain apps and yield.

The “super app” vision that reshaped consumer finance in Asia is now colliding with Western UX preferences and clearer regulation, and exchanges are betting that whoever controls the primary interface will control the next wave of users.

The report concludes that crypto is entering an “aggregation era,” where the real power no longer sits with base protocols but with whoever owns the user relationship. In other words, the place where people first log in, move money and discover products.

In that world, exchanges and large platforms are racing to become the default gateway; the app that distributes liquidity, order flow, stablecoins, staking, non-fungible tokens, gaming and so on.

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Delphi highlights Binance as the clearest example of the monolithic super app play, arguing it mirrors the WeChat‑style “one interface, infinite utility” model.

What began as a pure trading venue has steadily swallowed adjacent behaviors: spot and derivatives trading, Earn products, lending and staking, payments via Binance Pay, a Web3 wallet and institutional services all nested inside one dense interface.

Related: Binance’s new ‘Junior’ app draws mixed reactions over kids entering crypto

By contrast, Delphi describes Kraken as pursuing a federated “constellation” model built on a shared spine of liquidity, custody and identity.

Source: CoinTelegraph