Digital Money, including Tokenized Deposits, on the Uptick as Traditional and Digital Assets Converge, Citi Survey Shows
Citi's latest Securities Services Whitepaper reveals a significant shift towards digital money beyond central bank digital currencies (CBDCs). 65% of respondents plan to use non-CBDC options like stablecoins and tokenized deposits for digital securities settlements by 2026, compared to only 15% planning to use CBDCs. This marks a stark contrast from the previous year when CBDCs were preferred.
The survey, polling nearly 500 market participants, highlights the growing adoption of distributed ledger technology (DLT) and digital assets. Key findings include:
- Asia Pacific and Europe are leading in DLT and digital asset initiatives
- 62% of sell-side respondents focus on tokenization of various asset classes
- 64% of sell-side respondents prefer private networks for asset tokenization
- 44% of respondents cited significant impact from T+1 settlement implementation
- 40% expect real-time, atomic settlement within the next decade
The whitepaper emphasizes the need for modern platforms, reliable data, and real-time information as traditional and digital assets converge.
Il ultimo Whitepaper dei Servizi di Sicurezza di Citi rivela un significativo spostamento verso denaro digitale oltre le valute digitali delle banche centrali (CBDC). Il 65% dei rispondenti prevede di utilizzare opzioni non-CBDC come stablecoin e depositi tokenizzati per i regolamenti delle securities digitali entro il 2026, rispetto al solo 15% che intende usare le CBDC. Questo segna un netto contrasto con l'anno precedente, quando le CBDC erano quelle preferite.
Il sondaggio, che ha coinvolto quasi 500 partecipanti al mercato, evidenzia l'adozione crescente della tecnologia dei registri distribuiti (DLT) e degli attivi digitali. I principali risultati includono:
- Asia-Pacifico ed Europa sono leader nelle iniziative DLT e di attivi digitali
- Il 62% dei rispondenti della vendita si concentra sulla tokenizzazione di varie classi di attivi
- Il 64% dei rispondenti della vendita preferisce reti private per la tokenizzazione degli attivi
- Il 44% dei rispondenti ha citato un impatto significativo dall'implementazione della regolazione T+1
- Il 40% si aspetta regolazioni in tempo reale e atomiche nei prossimi dieci anni
Il whitepaper sottolinea la necessità di piattaforme moderne, dati affidabili e informazioni in tempo reale mentre gli attivi tradizionali e digitali convergono.
El último Whitepaper de Servicios de Valores de Citi revela un cambio significativo hacia dinero digital más allá de las monedas digitales de bancos centrales (CBDCs). El 65% de los encuestados planea usar opciones no-CBDC como stablecoins y depósitos tokenizados para liquidaciones de valores digitales para 2026, en comparación con solo el 15% que planea usar CBDCs. Esto marca un fuerte contraste con el año anterior, cuando las CBDCs eran las preferidas.
La encuesta, que consultó a casi 500 participantes del mercado, destaca la creciente adopción de tecnología de libro mayor distribuido (DLT) y activos digitales. Los hallazgos clave incluyen:
- Asia-Pacífico y Europa lideran en iniciativas DLT y de activos digitales
- El 62% de los encuestados del lado de la venta se enfoca en la tokenización de varias clases de activos
- El 64% de los encuestados del lado de la venta prefiere redes privadas para la tokenización de activos
- El 44% de los encuestados citó un impacto significativo de la implementación de liquidaciones T+1
- El 40% espera liquidaciones en tiempo real, atomizadas en la próxima década
El whitepaper enfatiza la necesidad de plataformas modernas, datos confiables e información en tiempo real a medida que los activos tradicionales y digitales convergen.
씨티의 최신 증권 서비스 백서는 중앙은행 디지털 통화(CBDC)를 넘어서는 디지털 통화로의 중요한 변화를 드러냅니다. 65%의 응답자가 2026년까지 디지털 증권 정산을 위해 스테이블코인 및 토큰화된 예금과 같은 비-CBDC 옵션을 사용할 계획이라고 밝혔고, 이는 CBDC를 사용할 계획이 있는 응답자의 비율인 15%와 비교됩니다. 이는 CBDC가 선호되었던 지난 년도와는 확연한 대조입니다.
이 설문조사는 거의 500명의 시장 참여자를 대상으로 하여 분산 원장 기술 (DLT) 및 디지털 자산의 증가하는 채택을 강조합니다. 주요 결과는 다음과 같습니다:
- 아시아 태평양 및 유럽이 DLT 및 디지털 자산 이니셔티브를 선도하고 있습니다.
- 판매 측 응답자의 62%가 다양한 자산 클래스의 토큰화에 집중하고 있습니다.
- 판매 측 응답자의 64%가 자산 토큰화를 위해 개인 네트워크를 선호합니다.
- 응답자의 44%가 T+1 결제 시행에 따른 상당한 영향을 언급했습니다.
- 40%는 향후 10년 내에 실시간 원자 결제를 기대합니다.
백서는 전통 자산과 디지털 자산이 융합하는 상황에서 현대적인 플랫폼, 신뢰할 수 있는 데이터, 실시간 정보의 필요성을 강조합니다.
Le dernier livre blanc des Services de Titres de Citi révèle un changement significatif vers l'argent numérique au-delà des monnaies numériques de banque centrale (CBDC). 65% des répondants prévoient d'utiliser des options non-CBDC telles que les stablecoins et les dépôts tokenisés pour le règlement des titres numériques d'ici 2026, contre seulement 15% prévoyant d'utiliser des CBDC. Cela marque un contraste frappant par rapport à l'année précédente, lorsque les CBDC étaient préférées.
Le sondage, qui a interrogé près de 500 participants du marché, met en évidence l'adoption croissante de la technologie des registres distribués (DLT) et des actifs numériques. Les principaux résultats incluent :
- La région Asie-Pacifique et l'Europe sont en tête des initiatives DLT et actifs numériques
- 62% des répondants du côté de la vente se concentrent sur la tokenisation de diverses classes d'actifs
- 64% des répondants du côté de la vente préfèrent les réseaux privés pour la tokenisation des actifs
- 44% des répondants ont cité un impact significatif de la mise en œuvre de l'établissement T+1
- 40% s'attendent à un règlement en temps réel et atomique au cours de la prochaine décennie
Le livre blanc souligne la nécessité de plateformes modernes, de données fiables et d'informations en temps réel tandis que les actifs traditionnels et numériques convergent.
Das neueste Whitepaper von Citibank über Wertpapierdienste zeigt einen signifikanten Wandel hin zu digitalem Geld über die digitalen Zentralbankwährungen (CBDCs) hinaus. 65% der Befragten planen, bis 2026 nicht-CBDC-Alternativen wie Stablecoins und tokenisierte Einlagen für die Abwicklung digitaler Wertpapiere zu nutzen, im Vergleich zu nur 15%, die CBDCs verwenden möchten. Dies stellt einen klaren Gegensatz zum Vorjahr dar, als CBDCs bevorzugt wurden.
Die Umfrage, die fast 500 Marktteilnehmer befragt hat, hebt die wachsende Akzeptanz von Distributed Ledger Technology (DLT) und digitalen Vermögenswerten hervor. Zu den wichtigsten Ergebnissen gehören:
- Asien-Pazifik und Europa führen bei DLT- und digitalen Vermögenswert-Initiativen
- 62% der Befragten im Verkaufsbereich konzentrieren sich auf die Tokenisierung verschiedener Vermögensklassen
- 64% der Befragten im Verkaufsbereich ziehen private Netzwerke für die Tokenisierung von Vermögenswerten vor
- 44% der Befragten berichteten von signifikanten Auswirkungen durch die T+1-Abwicklung
- 40% erwarten in den nächsten zehn Jahren eine Echtzeitabwicklung in atomarer Form
Das Whitepaper betont die Notwendigkeit moderner Plattformen, zuverlässiger Daten und Echtzeitinformationen, während sich traditionelle und digitale Vermögenswerte verbinden.
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65% of respondents in Citi’s latest Securities Services Whitepaper plan to use non-CBDC options to support digital securities settlements by 2026 -
Regulatory clarity (
77% ) and Interoperability between networks and wallets (47% ) are the top dependencies in enabling the widespread use of digital assets -
The T+1 transition is still ongoing with
33% of related project work still to be undertaken and95% of respondents expecting to move away from T+2 settlement within the next five years
The whitepaper polled close to 500 market participants encompassing buy- and sell-side institutions and offers timely insights into the post-trade industry. The whitepaper also incorporates qualitative insights from 14 financial market infrastructures (FMIs) and for the first time, includes an in-depth regional view of the industry across
Okan Pekin, Head of Securities Services, Citi, said, “The move to T+1 has taken center stage in the post-trade industry over the last few years. Our latest whitepaper – the largest since its inception in 2021 – focuses on the next frontier for the industry which is the growing applicability of technologies. This includes distributed ledger technology and digital assets, and the significant potential for tokenization to scale. These developments will continue to transform the securities landscape as we continue to move towards shorter settlement cycles across multiple markets worldwide. ”
Other notable findings from this year’s whitepaper include:
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Digital adoption is happening at different speeds:
Asia Pacific andEurope are driving the commercialization of DLT and digital assets with48% and46% of respondents respectively actively pursuing initiatives.
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Tokenization is ready for action while native digital issuance will take more time:
62% of sell-side respondents are focusing their DLT and digital asset efforts on tokenization of various asset classes, including public and private assets, versus8% for natively digital security issuance.
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Private networks are preferred by the sell-side:
64% of sell-side respondents expect to use private networks (managed by banks, technology companies and FMIs) as the tokenization of assets gain momentum. However, on the buy-side, asset managers are focusing on public blockchains for fund tokenization and the distribution opportunities.
On the settlements side:
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T+1 was more impactful than expected:
44% of total respondents cited significant impact from T+1 going live, higher than28% in 2023. Relative to other regions, European respondents were most impacted with60% indicating significant impact. -
Securities lending remains one of the most strongly impacted activities:
50% of respondents (compared to33% from last year) saw the most impact on securities lending followed by funding requirements at49% (versus31% last year). -
Changing expectations of accelerated settlements:
40% expect real-time, atomic settlement within the next decade, withAsia most bullish at42% .
“The accelerating convergence of traditional and digital assets and operating models reinforces the need for modern platforms, reliable data, and real-time information. We expect to see continued investments into automation, cloud infrastructure, and APIs as well as solutions that integrate with DLT networks. In response to these trends, Citi continues to innovate and leverage our integrated product offering to serve clients in today’s dynamic ecosystem,” said Amit Agarwal, Head of Custody, Securities Services, Citi.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20240903040787/en/
Harsha Jethnani
harsha.jethnani@citi.com
+65 93830872
Source: Citi
FAQ
What percentage of respondents plan to use non-CBDC options for digital securities settlements by 2026?
How has the preference for CBDCs changed compared to the previous year's survey?
Which regions are leading in the commercialization of DLT and digital assets?
What percentage of sell-side respondents are focusing on tokenization of asset classes?
How many respondents expect real-time, atomic settlement within the next decade?
