Citi sees tokenized securities hitting $5.5T by 2030!

Citi's new "Tokenization 2030: Wall Street On-Chain" report projects the global tokenized real-world asset market will surge from $17 billion today to $5.5 trillion by 2030 in its base case — with a range spanning $2.7 trillion on the low end to $8.2 trillion in a bull scenario depending on adoption speed. The bank calls it a tipping point: "You're seeing the full weight of American financial power and the global reserve currency moving on-chain at scale."

Three structural forces are driving the shift. Major market infrastructure operators — DTCC, Nasdaq, and Intercontinental Exchange (owner of the NYSE) — are embedding tokenization directly into core trading systems, with DTCC launching limited production trades in July and a full platform rollout in October. Stablecoin growth, projected to reach a $1.9 trillion market by 2030, provides the instant settlement rails, and is expected to generate roughly $1 trillion in new demand for U.S. Treasury bills as issuers back their digital cash with government bonds. Clearer U.S. regulation — including the Clarity Act advancing through the Senate after a 15-9 bipartisan committee vote — rounds out the enabling environment.

Citi expects tokenization to concentrate in mainstream public markets: 10% of the U.S. Treasury bill market and 3% of U.S. public equities tokenized by 2030, translating to $2.6 trillion in demand for digital stocks if just 10% of everyday U.S. investors migrate to on-chain platforms. The biggest winners will be "Structural Orchestrators" — large banks and investment firms that control both the underlying assets and the digital payment rails.