Citi Predicts $5.5 Trillion Tokenized Securities Market by 2030

Citi has projected a massive expansion for the tokenized securities market, forecasting growth from $17 billion today to $5.5 trillion by 2030. The report, titled “Tokenization 2030: Wall Street On-Chain,” outlines a range of outcomes, with a bullish scenario reaching $8.2 trillion. This growth is driven by three key factors: the integration of tokenization into core trading systems, the use of trusted digital cash for instant settlements, and regulatory clarity advancing in the US Congress.

The report highlights early adoption by major market infrastructure operators. The Depository Trust and Clearing Corporation plans to begin limited production trades of tokenized securities in July, with a broader platform launch in October. Nasdaq is developing a framework for blockchain-based share issuance, potentially launching as early as 2027, and has already received regulatory approval for certain on-chain stock trades. Intercontinental Exchange, owner of the New York Stock Exchange, also has plans for tokenized stocks.

Stablecoins play a central role in Citi’s vision, with the stablecoin market expected to grow to $1.9 trillion by 2030. The report suggests that stablecoin issuers backing their tokens with US government bonds could generate approximately $1 trillion in new demand for US Treasury bills. Citi estimates that if 10% of everyday US investors migrate to digital trading platforms, it would create $2.6 trillion in demand for tokenized stocks.

The transition to tokenization will be gradual, with legacy and digital systems running in parallel for years. Citi compares this shift to the adoption of electronic toll systems, where cash and automated lanes coexisted before full automation. The report concludes that large banks and investment firms controlling both underlying assets and digital payment rails will benefit the most, giving them a structural advantage as tokenized markets scale.