Citi Sees Tokenized Securities Reaching $5.5 Trillion by 2030

Public Markets Expected to Lead Growth

Citi said tokenized U.S. Treasuries and public equities are expected to drive the largest share of adoption because those markets are large, liquid and better suited to standardized digital settlement than private-market assets. The bank assumes 10% of the U.S. Treasury bill market and 3% of the U.S. public stock market will be tokenized by 2030.

Citi said digital trading platforms could become a major source of stock-tokenization demand. The bank estimated that if 10% of everyday U.S. investors move to new digital trading platforms, the shift would create $2.6 trillion in demand for tokenized stocks.

Citi expects private markets to remain smaller in comparison. The bank said private credit and private equity are each expected to reach $100 billion globally by 2030, putting them far below the expected scale of tokenized public stocks and government bonds.

Stablecoins are central to Citi’s outlook because the bank sees tokenized cash as the settlement layer needed for tokenized securities to function at scale. Citi expects standard stablecoins to become a $1.9 trillion market by 2030 and said stablecoin growth alone could create about $1 trillion in new demand for U.S. government bonds.

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Market Infrastructure and Regulation Add Momentum

Citi said traditional market operators are beginning to build tokenization directly into trading systems. The bank said companies running major stock markets are supportive of tokenization, making the shift less of a crypto-native experiment and more of an upgrade to existing market infrastructure.

Depository Trust & Clearing Corporation is expected to begin limited production trades of tokenized securities in July, with a broader platform launch planned for October. Nasdaq is working on a framework that would allow companies to issue blockchain-based shares, with a possible launch as early as 2027, and has received regulatory approval to allow certain stocks to be issued and traded in digital onchain form.

Intercontinental Exchange, the owner of the New York Stock Exchange, is also described as having plans for tokenized stocks. Citi said adoption by major infrastructure providers is important because tokenization becomes more meaningful when it is embedded into the systems that already support traditional securities activity.

U.S. digital-asset rules are also becoming clearer, according to Citi. On May 14, 2026, the Senate Banking Committee ended a four-month stall with a 15-9 bipartisan approval, advancing the Clarity Act to its next step.

Citi described the move by major financial infrastructure toward tokenization as a turning point. “You’re seeing the full weight of American financial power and the global reserve currency moving on chain at scale,” Citi said. The bank also said that when major market operators embed tokenization into capital markets, it “marks a tipping point.”

Citi said old and new systems are likely to run side by side before tokenization becomes more deeply embedded. The bank compared the transition to electronic toll systems such as E-ZPass, where automated and cash lanes operated in parallel before wider adoption took hold.

Citi said the shift could favor large “Structural Orchestrators,” meaning banks and investment firms that control both the real assets and the digital cash rails used to pay for them. The bank’s outlook points to a market where incumbents may play a central role in bringing securities onchain rather than being displaced by crypto-native platforms.

Citigroup stock has risen 66% over the last 12 months and traded at $125.90 per share at the time of the shorter uploaded article.