From BigGo Finance · BigGo Finance · · 50s
Wall Street Megabanks Tap Tokenized Assets as Next Growth Engine
Wall Street banks use tokenization to boost trading, payments and wealth management.
In brief
Wall Street banks use tokenization to boost trading, payments and wealth management. Wall Street megabanks are expanding trading, cross-border payments and investment advisory through tokenized assets. Originally reported by BigGo Finance.
Goldman Sachs
Goldman Sachs sees tokenization as a growth driver for trading, DeFi and prediction markets.
“As new products and trading activity increase, we gain access to new clients and broader distribution channels”
Wells Fargo
Wells Fargo uses tokenized deposits for cross-border payments arriving in under two minutes.
“funds arrive in the recipient's account in under two minutes”
Morgan Stanley
Morgan Stanley believes faster asset movement will increase investment advisory demand.
“In a tokenized environment, assets can move faster and more easily, but investment advice is still needed”
Goldman Sachs Platform
Goldman Sachs launched GS DAP in 2022 for digital bonds and tokenized assets.
“The European Investment Bank used the platform to issue €100 million (approximately $112.4 million) in digital bonds”
Tokenization Status
Tokenization remains early stage with minimal revenue contribution to banks.
“tokenization remains in its early stages with minimal revenue contribution to date”
Next Steps
Banks will expand tokenized services for cross-border payments and wealth management.
“Wells Fargo is also exploring tokenized securities, real-world assets, and cryptocurrency trading services for wealth management clients”
The headline
Wall Street megabanks are expanding trading, cross-border payments and investment advisory through tokenized assets.
