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HomeCrypto NewsMarketRipple Report: Payments Top Use Case for Crypto, Tokenized Assets set to Hit $16 Trillion

Ripple Report: Payments Top Use Case for Crypto, Tokenized Assets set to Hit $16 Trillion


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The latest report from Ripple reveals payments as the top use case for holding crypto as well as a projection that the tokenization scene would grow to $16 trillion by 2030.

Ripple, a leading blockchain technology company, has unveiled the latest iteration of its value report. The recent report, dubbed “Crypto Trends in Business and Beyond,” emphasizes the dominance of payments as the major use case for digital assets as well as a projected $16 trillion valuation for the tokenization scene.

The report represents the second in the series, and provides valuable insights into global sentiments and perspectives towards cryptocurrencies, digital assets, and blockchain technology.

Divided into three sections—Tokenize, Manage, and Move—the report surveyed over 1,700 finance leaders from financial institutions and enterprises, focusing on decentralized finance (DeFi), tokenization, Central Bank Digital Currencies (CBDCs), and payments.

One of the key findings from the report is that the top use case for digital assets is payments. This indicates that the majority of individuals involved in the crypto scene leverage digital assets for payments.

According to the survey, 44% of global finance leaders see payments as the most mature and likely gateway to crypto adoption. In particular, they highlight faster payments and cost-effectiveness as the most significant value proposition for integrating cryptocurrencies into cross-border transactions.

$16 Trillion Business Opportunity 

Moreover, the report sheds light on the increasing anticipation for tokenized real-world assets. In a September 2022 report, Boston Consulting Group estimates that the tokenization of illiquid assets could become a $16 trillion business opportunity by 2030. 

This promise is shown in the 72% of respondents who intend to employ tokenization in their firm to drive innovation over the next three years and across industries such as banking, manufacturing, media, and entertainment. Previous reports have highlighted the increasing interest in tokenization among developing countries.

Finance leaders express optimism about the impact of tokenization on securitized assets like mortgages and asset-backed securities, while enterprises see potential in the metaverse and event ticketing. Recall that Ripple’s recent acquisition of Metaco was also aimed at penetrating the tokenization scene.

DeFi as a Means To Drive Innovation

Another notable finding is the growing interest in decentralized finance (DeFi) among financial institutions. Despite being a developing field, 76% of finance leaders express interest in institutional DeFi to drive innovation in risk management, liquidity, and identity. 

Notably, DeFi’s potential to improve operational efficiency, data management, financial flexibility, and access to always-on markets particularly appeal to finance leaders.

While the report showcases overwhelming enthusiasm and confidence in crypto and digital assets, it also acknowledges the challenges ahead. It includes privacy concerns, regulatory clarity, risk management, and price volatility.

Ripple emphasizes the importance of educating financial institutions, governments, and businesses about the potential and significance of crypto to accelerate the Internet of Value.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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