Global tokenization market set to hit $5.5 trillion by 2030! What are the key drivers behind this explosive growth?

Citi’s “Tokenization 2030” report argues that tokenization is moving from experiment to mainstream, forecasting the tokenized-asset market to grow from $17 billion today to a $5.5 trillion base case by 2030 (range $2.7T–$8.2T). The report highlights major infrastructure shifts — DTCC, NYSE, Nasdaq and ICE integrating tokenization — and projects robust stablecoin growth (to $1.9T) that would enable instant settlement and larger demand for Treasury-backed digital cash. Citi expects ~10% of US Treasuries and ~3% of US public equities to be tokenized by 2030, with $2.6T potential demand if 10% of retail investors migrate to digital platforms. The analysis implies significant market and structural implications: incumbent banks and asset managers that control assets and payment rails stand to benefit most, while regulation and phased coexistence with legacy systems will shape adoption timing.