Digital assets are rapidly reshaping financial markets, with tokenization, CBDCs, and stablecoins driving new efficiencies in treasury operations. Insights from Finovate Europe 2025 reveal how institutions and major banks are moving beyond experimentation to real-world adoption.
Today at Finovate Europe 2025, industry leaders convened to discuss one of the most transformative shifts in financial services—digital assets. With regulatory momentum building, institutional adoption accelerating, and real-world use cases taking shape, the conversation underscored a pivotal moment for corporate treasurers. The key question? Not if digital assets will integrate into financial markets, but how quickly and at what scale.
“The tokenization of assets and currencies can reshape not only the way that value moves but also how ownership is structured and how settlement takes place,” said Nick Kerrigan, Managing Director and Head of Innovation at Swift, during his special address, Digital Assets: Ready for Takeoff.
Nick Kerrigan, a recognized leader in payments and digital innovation, highlighted that financial institutions, central banks, and fintechs are rapidly developing tokenized asset classes that could redefine capital markets. Whether for government bonds, corporate debt, or equities, major players are already making significant strides. Germany’s KFW has issued over €17.5 billion in digital bonds, and the European Investment Bank recently launched its fifth digital bond worth €100 million. Meanwhile, BlackRock and other asset managers are leading the way in tokenized investment funds.
Forecasts are bullish. BCG predicts the digital asset market could grow to $16 trillion by 2030, while other estimates push this figure as high as $30 trillion. This surge isn’t theoretical—44 jurisdictions are actively testing central bank digital currencies (CBDCs), with China alone processing over $900 billion in e-CNY transactions.
“The industry is moving beyond experimentation,” Kerrigan emphasized. “We’re seeing large-scale deployments of tokenized assets and stablecoins that are bridging gaps in cross-border payments, particularly in emerging markets.”
For corporate treasurers, the implications of digital assets are significant. Four key advantages emerged from the discussion:
Despite these benefits, fragmentation remains a major concern. “Without interoperability based on standards, the industry risks being stuck with new markets that don’t connect with one another,” Kerrigan warned. Institutional investors face complexities in navigating different blockchain platforms, regulatory landscapes, and liquidity structures.
The transition from pilots to widespread adoption will depend on regulatory clarity and infrastructure development. In the short term (1–2 years), the US Executive Order on digital assets could drive fresh regulatory frameworks for stablecoins and tokenized financial instruments. Meanwhile, Europe and Asia are advancing policy-driven initiatives such as the digital euro and wholesale CBDCs.
Over the medium term (3–5 years), programmable money and smart contracts are expected to reshape trade finance, corporate treasury, and cross-border payments. The longer-term vision sees regulated digital assets becoming an integral part of global financial markets—not an alternative system, but the foundation of value transfer.
Treasury teams must prepare by upgrading technology infrastructure, participating in industry trials, and engaging with regulatory bodies.
“The institutions taking action today will lead the future of digital assets tomorrow,” Kerrigan concluded. “The question is—are you ready?”