Global blockchain-based fixed-income issuance reached €4.8bn in 2025, up 48% from 2024.

A Finadium study estimated that using blockchain-based intraday repo for 15% of activity could reduce intraday liquidity buffer needs by 8–17%.

DTCC is the next big test.

@DeutscheBank says DTCC to launch its tokenization service in Oct 2026, covering Russell 1000 constituents, ETFs tracking major indices, and US Treasury bills, notes and bonds.