Citi Says Tokenized Securities Could Become a $5.5 Trillion Market by 2030

Key Takeaways

• Citi says the tokenized securities market could
grow from $17 billion today to $5.5 trillion
by 2030
• The bank estimates stablecoins may generate
nearly $1 trillion in new demand for U.S.
Treasuries by the end of the decade
• Citi says firms, including DTCC, Nasdaq, and
Intercontinental Exchange, are already building
tokenization into mainstream financial systems

Citi now thinks the industry is getting closer to actually using it at scale. In a new report, the bank said tokenized securities could grow from roughly $17 billion today to $5.5 trillion by 2030. The report does not frame this as a crypto trend anymore. Instead, it points to traditional market firms like DTCC, Nasdaq, and Intercontinental Exchange quietly building blockchain-based systems into existing financial infrastructure.

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Citi Thinks Wall Street Is Finally Ready for Tokenization

According to the report, the market for tokenized securities is currently worth around $17 billion. Citi’s base-case estimate puts that number at $5.5 trillion by the end of the decade. This comes as the bank said adoption could land anywhere between $2.7 trillion and $8.2 trillion.

The report expects most of the growth to come from tokenized Treasuries and tokenized stocks rather than smaller crypto-native assets. Large financial firms are already moving in that direction. DTCC plans to begin limited production trading for tokenized securities later this year. Meanwhile, Nasdaq has been working on blockchain-based share issuance frameworks. The report further read,

“You’re seeing the full weight of American financial power and the global reserve currency moving on change at scale. When DTCC and the NYSE embed tokenization into capital markets, this marks a tipping point.”

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Stablecoins Emerge As An Integral Part of the Settlement System

Citi also expects stablecoins to play a bigger role in how these markets function. The bank projects the stablecoin market could grow to roughly $1.9 trillion by 2030. Since many issuers hold short-term government debt as reserves, Citi estimates that growth could create close to $1 trillion in additional demand for US Treasuries.

The report also said tokenized stocks could generate around $2.6 trillion in demand over time if more retail investors begin using blockchain-based trading platforms. Citi is not alone in making big projections around tokenization. Firms including McKinsey, BCG, Ark Invest, Standard Chartered, and Andreessen Horowitz have also forecast multi-trillion-dollar growth for tokenized real-world assets over the next decade.

One thing that stands out in the report is the change in tone from traditional finance firms. A few years ago, tokenization was mostly discussed as a disruptive idea coming from the crypto industry. Citi now describes it more as a gradual upgrade to existing financial systems.

The bank compared the shift to the rollout of electronic toll systems, where digital and traditional infrastructure operated together for years before wider adoption eventually took over. Citi expects financial markets to move through a similar transition as tokenized assets become more common.

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