Nearly 90% of large businesses are embracing tokenized cash to speed up payments: DBS
Source: CoinDesk ·
From the source
Stablecoins lead instruments in use or planned at 63%, ahead of tokenized deposits at 53% and tokenized money market funds at 52%. Large businesses are using or testing tokenized money to improve cash management and cross-border payments, with 88% of respondents to a DBS survey reporting live deployments or pilots, the Singapore bank said. The report found 24% had deployed the technology at scale, while 43% had limited live use in selected markets. Another 21% were running pilots or proofs of concept, leaving 12% exploring the technology or not using it. DBS commissioned EY to conduct the study, which polled 422 business and finance leaders across 11 markets, including the U.S., China, Germany and the U.K. All represented organizations with annual revenue above $500 million. Stablecoins led the instruments respondents were using or planning to adopt, at 63%, followed by tokenized deposits at 53% and tokenized money market funds at 52% according to the study. Faster payments were…