The traditional banking system could face a radical transformation due to the growth of tokenized financial assets. According to a recent Standard Chartered report, digital tokens linked to cash, bonds, real estate and loans will reach $2 trillion in four years, driven mainly by dollar-backed stablecoins. This trend promises to change broker fees, asset custody and even the way governments finance themselves.
Standard Chartered anticipates exponential growth of stablecoins by 2028, favoured by a clearer regulatory framework in the United States. Each new digital currency will be backed by safe assets, generating an additional demand of $1.6 trillion in short-term U.S. government bonds. Estimates vary between institutions: JPMorgan projects only $500 billion in stablecoins by 2028, while other analysts talk about $3 trillion by 2030, with most maintaining a 1:1 parity with the dollar.
Beyond stablecoins, tokenized “real-world assets” could reach $30 trillion by 2034, covering real estate, loans, invoices and commodities. Over the past three years, the value of these tokens has increased by 380%, reaching $24 billion. Private credit — loans to mid-sized companies — currently represents $2 trillion and could reach $3 trillion by 2028. Tokenization will allow investors to buy small fractions of loans, something currently inaccessible to small funds or individuals.
Market projections and their impact
Tokenization technology promises to reduce intermediaries, allowing companies to make direct payments or raise funds without traditional bank intermediation. This could transform the current transfer and fee system. However, the growth of this market will require renewed infrastructures for customer verification, anti-money laundering and regulated custody of digital assets.
Ongoing verification of token values, reporting to regulators and tracking of transactions between digital wallets will require new accounting and custody systems. The success of this transformation will depend on regulatory clarity and institutional trust in stablecoins, with 2028 as a key year to determine whether these projections materialize. Meanwhile, investors and compliance teams will need to develop infrastructures capable of custodizing tokens and detecting illicit activities in real time.
