Citi’s latest tokenization outlook puts a much larger number on Wall Street’s onchain shift: tokenized securities could grow from about $17 billion today to $5.5 trillion by 2030.
The base forecast gives tokenization one of the strongest institutional growth cases in crypto, with a wider adoption range between $2.7 trillion and $8.2 trillion depending on how quickly market infrastructure, stablecoin liquidity and regulatory frameworks develop. The projection is focused on tokenized securities, not every real-world asset category, which is why it sits beside, rather than directly replaces, wider RWA market estimates.
CryptoAdventure recently tracked the broader tokenized RWA market crossing $31 billion, with Treasuries, credit, commodities, funds and equities expanding onchain. Citi’s forecast points to the next stage: public-market securities, Treasury bills and stock exposure becoming a much larger part of the same infrastructure shift.
Treasuries And Stocks Drive The Forecast
The biggest drivers are U.S. short-term Treasuries and public equities. Citi’s scenario includes about 10% of the U.S. short-term Treasury market and 3% of the public equity market becoming tokenized by 2030.
That would move tokenization beyond early crypto-native products and into the center of traditional finance. Stablecoins could create nearly $1 trillion in new demand for U.S. Treasuries, while digital stock platforms could generate about $2.6 trillion in demand if 10% of U.S. retail investors shift toward digital trading channels.
The market is already moving in that direction. DTCC and Stellar are working on tokenized DTC assets for a 2027 launch, with stocks, ETFs and Treasuries under evaluation. Paxos also secured a key U.S. foothold after its SEC clearing approval pushed tokenized equities into a new phase.
Exchanges Want The Equity Layer Too
Crypto exchanges are chasing the same market. Binance has moved into U.S. stock trading and planned bStocks tokenized equities, giving eligible non-U.S. users access to fractional stock exposure while preparing onchain equity products for BNB Chain.
That is the real market signal. Tokenization is no longer only a back-office settlement experiment. It is becoming a product race across banks, clearing systems, stablecoin issuers and crypto exchanges.
The next test is legal structure. Tokenized securities only work at scale if investors understand custody, redemption, dividends, corporate actions, transfer restrictions and what the token actually represents. Citi’s $5.5 trillion forecast shows how large the opportunity can become, but the winners will be the platforms that connect onchain speed with enforceable ownership, regulated settlement and deep liquidity.
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