A survey conducted by EY for DBS among 422 financial executives at large companies across 11 countries found that 88% are already deploying or piloting tokenized money, while about two-thirds use it across the organization or at selected sites. Stablecoins lead with 63% of responses, ahead of tokenized deposits at 53% and tokenized money market funds at 52%; expected benefits include improved traceability, instant cross-border payments and stronger internal controls. The stablecoin market is worth about $304 billion, driven by USDT and USDC, while banks seek to become the central integration point for tokenized transactions. Europe is represented only by Germany and the United Kingdom, with no French companies in the sample, as the renminbi gains ground and the United States finalizes its stablecoin regulations.
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