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World-renowned asset management firm Bernstein, overseeing more than $800 billion in assets, recently issued a research report praising the benefits of tokenization. This process, converting real-world assets into blockchain-based tokens, is simple, operationally efficient, and offers improved liquidity and accessibility. The report also boldly projects the tokenization market to swell to $5 trillion within the next five years.
Tokenization Market Could Soar to $5 Trillion
Bernstein anticipates the opportunity within the tokenization market to reach up to $5 trillion in the next five years. The firm expects this growth to be spearheaded by stablecoins, central bank digital currencies (CBDCs), private market funds, securities, and real estate.
The report predicts currency tokenization via stablecoins and CBDCs, applicable to on-chain deposits and payments, will comprise about 2% of the global money supply in the next five years. This translates to an estimated $3 trillion in tokenized currency.
Lead analysts including Gautam Chhugani project a surge in circulation of stablecoins and CBDC tokens within the next five years, led primarily by China’s CBDC program. The report notes, “Combined with yield generating decentralized markets, stablecoins and CBDC tokens will compete with bank deposits as an investment or savings instrument.”
Regulatory Uncertainty: The Main Hurdle for Tokenization
However, Bernstein did note the current regulatory uncertainty surrounding tokenization. Success in utilizing blockchain for tokenization could hinge on policymakers understanding the benefits of blockchain and the integral part cryptocurrencies play in blockchain transactions.
The report states, “How policymakers will regulate Blockchain-based companies and how they will perceive the tokenization of real-world assets will be determinant.” It also cautioned, “Regulations could dull the advantages of tokenization.”
