GDF: Real-world asset tokenization is moving mainstream
GDF: Real-world asset tokenization is moving mainstream
New global research from industry association Global Digital Finance (GDF) shows most major financial institutions already handle real-world digital assets as tokenization moves from being an innovation to a part of the mainstream.
Its study with finance firms in the US, Asia, Europe and the Middle East responsible for more than $221.75 billion assets under management found 91% handle real world digital assets, such as digital or tokenized securities or commodities and those who have not done so plan to in the future, with 100% respondents intending on doing so if they do not already.
The 91% are most likely to have handled tokenised corporate debt, alternative funds and sovereign debt, the research by GDF, which is focused on accelerating digital finance through the adoption of best practices and standards and engagement with regulators and policymakers, found.
Nearly nine out of 10 (87%) questioned said they plan to use deposit tokens or Central Bank Digital Currencies (CBDCs). Currently firms rely on other cash leg solutions, with 57% of firms deploying stablecoins and 66% deploying proprietary coins to on and off ramp.
The research highlights a movement in RWA tokenization from PoC to production which only echoes comments earlier this year from Larry Fink, the CEO of BlackRock that the 'next step going forward will be the tokenization of financial assets.'