Ripple 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

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.

Learn more: The Crypto Basic

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