Large institutions like BNY expect stablecoins, tokenized deposits, and other digital cash equivalents to scale rapidly, with total digital-asset markets potentially reaching $3.6 trillion by 2030. As fintechs continue to dominate the stablecoin space, banks face both competitive risks and new opportunities to offer faster, always-on settlement. For smaller institutions, the challenge is deciding how—and when—to develop the capabilities needed to participate in emerging payment rails without overstretching resources.
What do you see as the greatest competitive risks from fintech-led digital cash offerings? What internal capabilities or vendor partnerships would help you experiment safely with tokenized deposits or digital settlement tools? How do you evaluate whether digital-asset products complement or conflict with your current funding strategy?