DBS Survey Finds 88% of Large Businesses Deploying or Piloting Tokenized Money

Global corporate adoption of tokenized money is advancing faster than projected as large corporations seek enhanced liquidity management and cross-border expansion, according to findings released by Singapore-based banking group DBS ¹. A study conducted by the bank revealed that 88% of surveyed multinational firms are actively piloting or have operational deployments of tokenized money use cases ¹.

Conducted between June and July, the DBS survey questioned 422 corporate and finance executives from institutions generating more than $500 million in annual revenue ¹. The cohort covered 11 major international markets, including the United States, the United Kingdom, Australia, China, and Germany ¹. Among the participants, approximately two-thirds reported that their organizations had either rolled out tokenized money applications at full scale or implemented them within designated operational jurisdictions ¹.

Stablecoins Lead Institutional Deployment

Stablecoins emerged as the predominant digital instrument, cited by 63% of businesses, ahead of tokenized bank deposits at 53% and tokenized money market funds at 52% ¹. Lim Soon Chong, group head of global transaction services at DBS, highlighted that stablecoins provide practical advantages over conventional clearing infrastructure by enhancing fungibility across diverse payment intermediaries outside the closed-loop banking perimeter, alongside simplified permissioning workflows ¹. At the time of writing, the broader market reflects active digital asset usage, with stablecoin bellwether $USDT trading near par at $0.9982 amid a total crypto market capitalization of $2.66 trillion.

The findings also outlined strategic geographic and currency shifts ¹. Southeast Asia registered as the premier target for corporate cross-border expansion, followed by Australasia and India ¹. Additionally, over 50% of surveyed corporate leaders in both the United Kingdom and Australia indicated they are evaluating the Chinese renminbi for bilateral trade settlement across the next one to two years, driven by currency appreciation and commercial incentives offered by Chinese exporters ¹.