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區塊鏈

市場調查報告書

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2115725

全球代幣化存款市場：依產品、帳本類型、應用及最終用戶分類－市場規模、產業趨勢、機會分析及2026-2035年預測

Global Tokenized Deposit Market By Offering, Ledger Type, Application, End User - Market Size, Industry Dynamics, Opportunity Analysis and Forecast For 2026-2035

出版日期: 2026年07月30日 | 出版商:

Astute Analytica | 英文 280 Pages | 商品交期: 最快1-2個工作天內

價格

簡介目錄

隨著金融機構擴大採用基於區塊鏈的解決方案來改善其結算、清算和流動性管理流程，全球代幣化存款市場正在經歷顯著擴張。預計到2025年，該市場規模約為10億美元，到2035年將達到近250億美元，在2026年至2035年的預測期內，複合年成長率將高達38.0%。

推動市場成長的主要因素是，越來越多的金融機構開始採用代幣化存款，以尋求比傳統支付系統更有效率的替代方案。銀行、支付服務提供者和金融市場參與企業正在探索代幣化存款，希望在維持傳統銀行存款安全性、監管能力和可靠性的同時，提高營運效率。

顯著的市場趨勢

代幣化存款市場正由多家全球領先的金融機構積極建構基於區塊鏈的支付、清算和數位資產基礎設施而形成。這些機構正利用其廣泛的銀行網路、技術能力和監管專長，加速代幣化存款在機構金融領域的普及。摩根大通憑藉其基於區塊鏈的金融基礎設施項目，被視為代幣化存款生態系統中的關鍵參與者之一。

匯豐銀行也是推動代幣化存款普及的領導企業之一，其代幣化存款服務專注於簡化企業支付和金融營運。花旗集團則透過開發針對大規模金融營運的區塊鏈解決方案，在支持機構投資者採用代幣化存款方面發揮關鍵作用。

渣打銀行正透過在傳統銀行服務之外實施代幣化存款功能，為建構數位化金融框架做出貢獻。富國銀行則致力於透過開發基於區塊鏈的基礎設施，推動代幣化存款領域的創新，該基礎設施旨在支持安全且可擴展的金融交易。

主要成長要素

隨著金融機構和用戶日益尋求能夠將區塊鏈的高效性與傳統銀行體系的成熟保障相結合的數位資產解決方案，監管支持和保護已成為推動代幣化存款市場成長的關鍵因素。與私人發行的穩定幣不同，代幣化存款直接由受監管商業銀行的存款支持，是現有銀行負債的數位化形式。這種差異正逐漸贏得機構投資者的信任，因為代幣化存款保持了其作為銀行存款的根本地位，而非作為擁有自身儲備結構和監管考慮的獨立發行的數位資產。

新機會的趨勢

自動化供應鏈和實體資產（RWA）結算是有望透過實現更有效率、透明和可程式設計的金融交易來推動代幣化存款市場擴張的新趨勢。隨著企業業務流程的數位化程度不斷提高，將代幣化存款整合到供應鏈生態系統中，為自動化支付、縮短結算週期以及提升全球貿易夥伴間的信任度開闢了新的可能性。傳統的供應鏈金融通常涉及人工檢驗流程、多個仲介業者、支付週期延遲以及複雜的配對程序。透過利用基於區塊鏈的基礎設施和可程式設計數位資產，企業可以簡化這些操作，並建立一個快速回應、與現實世界商業交易直接相關的金融生態系統。

最佳化障礙

與傳統核心銀行系統的整合仍然是阻礙代幣化存款市場發展的最大挑戰之一。儘管分散式帳本技術 (DLT) 在支付效率、交易透明度和結算速度方面帶來了顯著提升，但大多數金融機構仍在沿用數十年前的核心銀行基礎設施，這些基礎設施最初並非為支援基於區塊鏈的應用而設計。這些舊有系統已深深融入銀行運營，管理客戶帳戶、支付、貸款、資金管理、風險管理和監管報告等關鍵功能。替換或升級這些系統是一個複雜、成本高昂且耗時的過程，這使得與代幣化存款平台的整合成為一項重大的技術和營運障礙。

產業價值鏈分析
產業展望
- 全球代幣化存款（可程式銀行貨幣）產業概覽
- 層級構造貨幣體系（批發央行數位貨幣、代幣化存款和穩定幣）和原子DvP支付。
- 貨幣統一由受監管責任網路、Project Guardian/Agora 和存款保險提供支援。
PESTLE分析
波特五力分析
市場成長及前景
- 2020-2035年市場收入估算與預測
- 價格趨勢分析：透過報價

第4章：全球代幣化存款市場分析

競爭對手儀表板
- 市場集中度
- 企業市場占有率分析，2025 年
- 競爭對手分析與基準測試

第5章：全球代幣化存款市場分析

市場動態和趨勢
- 成長要素
- 抑制因子
- 機會
- 主要趨勢
市場規模及預測，2020-2035年
- 報價
  - 關鍵見解
    - 平台/基礎設施（發行、支付/DvP）
    - 整合和服務
- 依帳簿類型
  - 關鍵見解
    - 允許/私人
    - 公立/混合
- 用途別
  - 關鍵見解
    - 銀行間結算（批發）
    - 企業融資
    - 跨境支付
    - 鏈上抵押品/回購
- 最終用戶
  - 關鍵見解
    - 商業銀行
    - 公司
    - 金融市場基礎設施
- 按地區
  - 關鍵見解
    - 北美洲
      - 美國
      - 加拿大
      - 墨西哥
    - 歐洲
      - 西歐
        
        英國
        德國
        法國
        義大利
        西班牙
        其他西歐國家
      - 東歐
        
        波蘭
        俄羅斯
        其他東歐國家
    - 亞太地區
      - 中國
      - 印度
      - 日本
      - 澳洲和紐西蘭
      - 韓國
      - ASEAN
      - 其他亞太國家
    - 中東和非洲（MEA）
      - 沙烏地阿拉伯
      - 南非
      - UAE
      - 其他中東和非洲國家
    - 南美洲
      - 阿根廷
      - 巴西
      - 其他南美國家

第6章：北美市場分析

第7章：歐洲市場分析

第8章：亞太市場分析

第9章：中東和非洲代幣化存款市場分析

第10章：南美市場分析

第11章：公司簡介

公司簡介（公司概況、財務指標、主要產品清單、主要負責人、主要競爭對手、聯絡資訊和業務策略展望）

JPMorgan Chase
HSBC
Standard Chartered
UBS
BNP Paribas
Societe Generale
Deutsche Bank
Citigroup
Wells Fargo
BNY Mellon
ANZ Banking Group
Santander
Goldman Sachs
ING Group
MUFG
SBI Holdings
DBS Bank
Barclays
Credit Suisse (UBS)
State Street Corporation
其他主要公司

第12章附錄

簡介目錄

Product Code: AA07261911

The global tokenized deposit market is experiencing significant expansion as financial institutions increasingly adopt blockchain-based solutions to modernize payment, settlement, and liquidity management processes. The market, valued at approximately USD 1.0 billion in 2025, is projected to reach nearly USD 25 billion by 2035, reflecting a strong compound annual growth rate (CAGR) of 38.0% during the forecast period from 2026 to 2035.

A major factor contributing to market growth is the rising adoption of tokenized deposits by institutional financial entities seeking more efficient alternatives to conventional settlement systems. Banks, payment providers, and financial market participants are exploring tokenized deposits as a means to improve operational efficiency while maintaining the security, regulatory oversight, and trust associated with traditional banking deposits.

Noteworthy Market Developments

The tokenized deposit market is being shaped by several leading global financial institutions that are actively developing blockchain-based payment, settlement, and digital asset infrastructure. These players are leveraging their extensive banking networks, technological capabilities, and regulatory expertise to accelerate the adoption of tokenized deposits across institutional finance. JPMorgan Chase is considered one of the leading participants in the tokenized deposit ecosystem through its blockchain-based financial infrastructure initiatives.

HSBC is another prominent player advancing tokenized deposit adoption through its Tokenised Deposit Service, which focuses on improving the efficiency of corporate payments and treasury operations. Citigroup plays an important role in supporting institutional adoption of tokenized deposits by developing blockchain-based solutions tailored to large-scale financial operations.

Standard Chartered is contributing to the development of digital finance frameworks by implementing tokenized deposit capabilities alongside traditional banking services. Wells Fargo is advancing tokenized deposit innovation through the development of blockchain-based infrastructure designed to support secure and scalable financial transactions.

Core Growth Driver

Regulatory preference and protection represent significant factors driving the growth of the tokenized deposit market, as financial institutions and users increasingly seek digital asset solutions that combine blockchain-based efficiency with the established safeguards of traditional banking systems. Unlike privately issued stablecoins, tokenized deposits are directly backed by deposits held at regulated commercial banks and represent a digital form of existing banking liabilities. This distinction provides greater confidence among institutional participants, as tokenized deposits maintain their fundamental status as bank deposits rather than functioning as independently issued digital assets with separate reserve structures and regulatory considerations.

Emerging Opportunity Trends

Automated supply chain and real-world asset (RWA) settlement represents an emerging opportunity trend that is expected to support the expansion of the tokenized deposit market by enabling more efficient, transparent, and programmable financial transactions. As businesses increasingly digitize their operational processes, the integration of tokenized deposits with supply chain ecosystems creates new possibilities for automating payments, reducing settlement delays, and improving trust among global trading partners. Traditional supply chain finance often involves manual verification processes, multiple intermediaries, delayed payment cycles, and complex reconciliation procedures. By leveraging blockchain-based infrastructure and programmable digital assets, organizations can streamline these activities and create a more responsive financial ecosystem linked directly to real-world commercial events.

Barriers to Optimization

Integration with legacy core banking systems remains one of the most significant challenges that may restrain the growth of the tokenized deposit market. Although distributed ledger technology (DLT) offers substantial improvements in payment efficiency, transaction transparency, and settlement speed, most financial institutions continue to operate on decades-old core banking infrastructures that were not originally designed to support blockchain-based applications. These legacy systems are deeply embedded within banking operations, managing critical functions such as customer accounts, payments, lending, treasury, risk management, and regulatory reporting. Replacing or modernizing these systems is a complex, costly, and time-intensive process, making the integration of tokenized deposit platforms a major technological and operational hurdle.

Detailed Market Segmentation

By offering, the platform and infrastructure segment formed the foundation of the tokenized deposit market in 2026, accounting for the largest share due to its essential role in enabling the creation, issuance, management, and settlement of tokenized deposits. As financial institutions continue to modernize payment systems and adopt distributed ledger technologies, the demand for secure, scalable, and enterprise-grade infrastructure has increased significantly. Platforms serving as the core technological backbone provide the necessary capabilities for tokenization, transaction validation, digital asset custody, identity management, and smart contract execution. These capabilities are fundamental for supporting reliable tokenized deposit ecosystems while ensuring operational continuity and regulatory compliance across diverse financial environments.

By ledger type, permissioned and private distributed ledger technologies (DLT) accounted for the largest share of the tokenized deposit market in 2025, driven by the stringent operational, security, and regulatory requirements of financial institutions. Banks, payment providers, and other regulated financial entities require digital infrastructure that offers high levels of confidentiality, governance, and compliance while supporting the efficiency benefits of blockchain technology. Permissioned DLT platforms satisfy these requirements by restricting network access to verified participants, enabling institutions to maintain greater control over transaction processing, user authentication, and data sharing. As a result, these platforms have become the preferred foundation for deploying tokenized deposit solutions within regulated financial environments.

By application, wholesale interbank settlement represented the largest share of the tokenized deposit market, reflecting the growing demand for faster, more secure, and highly efficient settlement mechanisms among financial institutions. Traditional interbank settlement systems often involve multiple intermediaries, delayed processing times, and operational complexities, particularly in cross-border transactions. These limitations create liquidity constraints and increase operational costs for banks. Tokenized deposits address these challenges by enabling financial institutions to settle transactions directly on distributed ledger platforms, significantly improving transaction speed, transparency, and overall settlement efficiency.

By End User, Commercial banks firmly led the end-user segment of the global tokenized deposit market in 2025, emerging as the primary issuers, custodians, and managers of tokenized deposits. Their dominant position is largely attributed to their well-established role within the financial system, extensive customer base, and exclusive authority to issue regulated deposit liabilities. As licensed depository institutions, commercial banks are uniquely positioned to integrate tokenized deposits into existing banking infrastructure while ensuring compliance with financial regulations, prudential standards, and anti-money laundering requirements.

Segment Breakdown

By Offering

Platform/ Infrastructure (Issuance, Settlement/DvP)
Integration & Services

By Ledger Type

Permissioned/Private
Public/ Hybrid

By Application

Wholesale Interbank Settlement
Corporate Treasury
Cross-Border Payments
On-Chain Collateral/Repo

By End User

Commercial Banks
Corporates
Financial Market Infrastructures

By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
Rest of MEA
South America
Argentina
Brazil
Rest of South America

Geography Breakdown

Asia Pacific decisively dominates the global tokenized deposit market, accounting for the largest share of worldwide revenue in 2026. The region's leadership is driven by a combination of forward-looking regulatory initiatives, strong government support for financial innovation, and the rapid integration of digital currency technologies into existing financial systems. Regulatory authorities across several Asia Pacific economies have adopted proactive approaches by establishing regulatory sandboxes that enable financial institutions and technology providers to test tokenized financial products in controlled environments before full-scale commercial deployment.
The regional market is primarily anchored by Singapore and Hong Kong, both of which have established themselves as leading global financial centers for digital asset innovation and tokenized financial services. Singapore has strengthened its position through the Monetary Authority of Singapore's (MAS) Project Guardian initiative, which has brought together major commercial banks, financial institutions, and technology companies to explore and commercialize tokenized financial assets.
Japan further contributes to the region's strong market position through the development of the Progmat ecosystem, which serves as one of the country's leading digital asset issuance and management platforms. The ecosystem enables large Japanese banking groups and financial consortiums to issue fully compliant tokenized deposits that are backed on a one-to-one basis by traditional fiat currency held within the banking system.

Leading Market Participants

JPMorgan Chase
HSBC
Standard Chartered
UBS
BNP Paribas
Societe Generale
Deutsche Bank
Citigroup
Wells Fargo
BNY Mellon
ANZ Banking Group
Santander
Goldman Sachs
ING Group
MUFG
SBI Holdings
DBS Bank
Barclays
Credit Suisse (UBS)
State Street Corporation
Other Prominent Players

Table of Content

Chapter 1. Executive Summary

1.1. Global Tokenized Deposit Market

Chapter 2. Research Methodology & Research Framework

2.1. Research Objective
2.2. Product Overview
2.3. Market Segmentation
2.4. Qualitative Research
- 2.4.1. Primary Sources
- 2.4.2. Secondary Sources
2.5. Quantitative Research
- 2.5.1. Primary Sources
- 2.5.2. Secondary Sources
2.6. Breakdown of Primary Research Respondents, By Region
2.7. Assumption for Study
2.8. Market Size Estimation
2.9. Data Triangulation

Chapter 3. Global Tokenized Deposit Market Overview

3.1. Industry Value Chain Analysis
- 3.1.1. Commercial-Bank Deposit Issuers & Core-Banking System-of-Record Providers
- 3.1.2. DLT Platform / Infrastructure (Issuance, Settlement/DvP) Developers
- 3.1.3. Interoperability, Orchestration & Core-Banking API Integration Providers
- 3.1.4. Compliance, Custody & Financial-Market-Infrastructure Partners
- 3.1.5. End Users (Commercial Banks, Corporates, Financial Market Infrastructures)
3.2. Industry Outlook
- 3.2.1. Overview of the Global Tokenized Deposit (Programmable Bank Money) Industry
- 3.2.2. Three-Layer Monetary Stack (Wholesale CBDC, Tokenized Deposits, Stablecoins) & Atomic DvP Settlement
- 3.2.3. Regulated Liability Network, Project Guardian / Agora & Deposit-Insurance-Backed Singleness of Money
3.3. PESTLE Analysis
3.4. Porter's Five Forces Analysis
- 3.4.1. Bargaining Power of Suppliers
- 3.4.2. Bargaining Power of Buyers
- 3.4.3. Threat of New Entrants
- 3.4.4. Threat of Substitutes
- 3.4.5. Intensity of Rivalry
3.5. Market Growth and Outlook
- 3.5.1. Market Revenue Estimates and Forecast (US$ Mn), 2020-2035
- 3.5.2. Price Trend Analysis, By Offering

Chapter 4. Global Tokenized Deposit Market Analysis

4.1. Competition Dashboard
- 4.1.1. Market Concentration Rate
- 4.1.2. Company Market Share Analysis (Value %), 2025
- 4.1.3. Competitor Mapping & Benchmarking

Chapter 5. Global Tokenized Deposit Market Analysis

5.1. Market Dynamics and Trends
- 5.1.1. Growth Drivers
- 5.1.2. Restraints
- 5.1.3. Opportunity
- 5.1.4. Key Trends
5.2. Market Size and Forecast, 2020-2035 (US$ Mn)
- 5.2.1. By Offering
  - 5.2.1.1. Key Insights
    - 5.2.1.1.1. Platform/ Infrastructure (Issuance, Settlement/DvP)
    - 5.2.1.1.2. Integration & Services
- 5.2.2. By Ledger Type
  - 5.2.2.1. Key Insights
    - 5.2.2.1.1. Permissioned/Private
    - 5.2.2.1.2. Public/ Hybrid
- 5.2.3. By Application
  - 5.2.3.1. Key Insights
    - 5.2.3.1.1. Wholesale Interbank Settlement
    - 5.2.3.1.2. Corporate Treasury
    - 5.2.3.1.3. Cross-Border Payments
    - 5.2.3.1.4. On-Chain Collateral/Repo
- 5.2.4. By End User
  - 5.2.4.1. Key Insights
    - 5.2.4.1.1. Commercial Banks
    - 5.2.4.1.2. Corporates
    - 5.2.4.1.3. Financial Market Infrastructures
- 5.2.5. By Region
  - 5.2.5.1. Key Insights
    - 5.2.5.1.1. North America
      - 5.2.5.1.1.1. The U.S.
      - 5.2.5.1.1.2. Canada
      - 5.2.5.1.1.3. Mexico
    - 5.2.5.1.2. Europe
      - 5.2.5.1.2.1. Western Europe
        
        5.2.5.1.2.1.1. The UK
        5.2.5.1.2.1.2. Germany
        5.2.5.1.2.1.3. France
        5.2.5.1.2.1.4. Italy
        5.2.5.1.2.1.5. Spain
        5.2.5.1.2.1.6. Rest of Western Europe
      - 5.2.5.1.2.2. Eastern Europe
        
        5.2.5.1.2.2.1. Poland
        5.2.5.1.2.2.2. Russia
        5.2.5.1.2.2.3. Rest of Eastern Europe
    - 5.2.5.1.3. Asia Pacific
      - 5.2.5.1.3.1. China
      - 5.2.5.1.3.2. India
      - 5.2.5.1.3.3. Japan
      - 5.2.5.1.3.4. Australia & New Zealand
      - 5.2.5.1.3.5. South Korea
      - 5.2.5.1.3.6. ASEAN
      - 5.2.5.1.3.7. Rest of Asia Pacific
    - 5.2.5.1.4. Middle East & Africa (MEA)
      - 5.2.5.1.4.1. Saudi Arabia
      - 5.2.5.1.4.2. South Africa
      - 5.2.5.1.4.3. UAE
      - 5.2.5.1.4.4. Rest of MEA
    - 5.2.5.1.5. South America
      - 5.2.5.1.5.1. Argentina
      - 5.2.5.1.5.2. Brazil
      - 5.2.5.1.5.3. Rest of South America

Chapter 6. North America Market Analysis

6.1. Market Dynamics and Trends
- 6.1.1. Growth Drivers
- 6.1.2. Restraints
- 6.1.3. Opportunity
- 6.1.4. Key Trends
6.2. Market Size and Forecast, 2020-2035 (US$ Mn)
- 6.2.1. Key Insights
  - 6.2.1.1. By Offering
  - 6.2.1.2. By Ledger Type
  - 6.2.1.3. By Application
  - 6.2.1.4. By End User
  - 6.2.1.5. By Country

Chapter 7. Europe Market Analysis

7.1. Market Dynamics and Trends
- 7.1.1. Growth Drivers
- 7.1.2. Restraints
- 7.1.3. Opportunity
- 7.1.4. Key Trends
7.2. Market Size and Forecast, 2020-2035 (US$ Mn)
- 7.2.1. Key Insights
  - 7.2.1.1. By Offering
  - 7.2.1.2. By Ledger Type
  - 7.2.1.3. By Application
  - 7.2.1.4. By End User
  - 7.2.1.5. By Country

Chapter 8. Asia Pacific Market Analysis

8.1. Market Dynamics and Trends
- 8.1.1. Growth Drivers
- 8.1.2. Restraints
- 8.1.3. Opportunity
- 8.1.4. Key Trends
8.2. Market Size and Forecast, 2020-2035 (US$ Mn)
- 8.2.1. Key Insights
  - 8.2.1.1. By Offering
  - 8.2.1.2. By Ledger Type
  - 8.2.1.3. By Application
  - 8.2.1.4. By End User
  - 8.2.1.5. By Country

Chapter 9. Middle East & Africa (MEA) Market Analysis

9.1. Market Dynamics and Trends
- 9.1.1. Growth Drivers
- 9.1.2. Restraints
- 9.1.3. Opportunity
- 9.1.4. Key Trends
9.2. Market Size and Forecast, 2020-2035 (US$ Mn)
- 9.2.1. Key Insights
  - 9.2.1.1. By Offering
  - 9.2.1.2. By Ledger Type
  - 9.2.1.3. By Application
  - 9.2.1.4. By End User
  - 9.2.1.5. By Country

Chapter 10. South America Market Analysis

10.1. Market Dynamics and Trends
- 10.1.1. Growth Drivers
- 10.1.2. Restraints
- 10.1.3. Opportunity
- 10.1.4. Key Trends
10.2. Market Size and Forecast, 2020-2035 (US$ Mn)
- 10.2.1. Key Insights
  - 10.2.1.1. By Offering
  - 10.2.1.2. By Ledger Type
  - 10.2.1.3. By Application
  - 10.2.1.4. By End User
  - 10.2.1.5. By Country

Chapter 11. Company Profile

Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)