Within the next five years, stablecoins and tokenized securities are expected to handle around a tenth of global post-trade market turnover, according to a Citi survey.
In its Securities Services Evolution report released Tuesday, the investment bank highlighted bank-issued stablecoins as the primary tool to enhance collateral efficiency, enable fund tokenization, and support private market securities.
The survey gathered responses from 537 custodians, banks, broker-dealers, asset managers, and institutional investors across the Americas, Europe, Asia-Pacific, and the Middle East between June and July. Over half of respondents indicated that their firms are also piloting generative artificial intelligence (GenAI) for post-trade processes.
The post-trade market, which ensures that securities trades are verified, executed, and finalized, has increasingly drawn Wall Street’s attention, particularly after new U.S. legislation earlier this year formalized regulations for stablecoins.
Crypto industry approaching a tipping point
Citi noted that since 2021, digital asset adoption has shifted from early experimentation to strategic implementation. While momentum is evident, the industry has not yet reached a tipping point—but according to the report, that moment could be “tantalizingly close.”
“After years of groundwork, the global post-trade industry looks set for a period of transformation in speed, cost and resilience on an international scale.”
Survey participants identified liquidity and post-trade cost efficiencies as the primary drivers behind investments in digital ledger technology (DLT), with most expecting blockchain to significantly impact these areas over the next three years.
“More than half of respondents are now more confident than ever that DLT’s ability to accelerate the movement of securities across global capital markets could have a major effect on funding costs, financial resource requirements, and operating expenses before 2028,” Citi noted.
Regional expectations for crypto adoption
Predictions for digital asset usage varied by region, with the U.S. leading the way. By 2030, 14% of market turnover in the U.S. is expected to occur through digital or tokenized assets, compared with 10% in Europe and 9% in the Asia-Pacific region.
Citi highlighted that U.S. sentiment in 2025 has been a notable development this year, fueled by regulatory changes such as the GENIUS Act, signed into law by President Donald Trump in July. Leadership from major firms—including stablecoin issuer Circle, asset manager BlackRock, and other institutions advancing digital liquidity—has also contributed to the shift in sentiment.
GenAI expected to influence post-trade operations
Generative AI (GenAI) is anticipated to play a growing role in the post-trade market, with 57% of respondents reporting that their organizations are piloting the technology for post-trade activities. At least 67% of institutional investors said they are using GenAI for functions such as reconciliation, reporting, clearing, and settlements.
Generative artificial intelligence (GenAI) leverages advanced models to create text, images, videos, and other forms of data.
Currently, the largest share of survey respondents reported piloting GenAI for onboarding processes, with 83% of brokers, 63% of custodians, and 60% of asset managers using it to “make a meaningful impact.”
Citi noted, “In a world where faster, cleaner onboarding directly translates to financial gains, this use case represents an ideal starting point and a chance to bridge the gap between retail and institutional clients.”
