A recent research report released by Citi predicts that by 2030, there will be US$4 trillion to US$5 trillion in tokenized digital securities, and the volume of trade finance transactions based on distributed ledger technology will also reach US$1 trillion. This aggressive forecast is based on the following assumptions:

1. An estimated $1.9 trillion tokenization market (accounting for 1%) of the $187 trillion non-financial corporate and quasi-sovereign bond market;

2. It is estimated that there is a tokenization market of US$1.5 trillion in the US$20 trillion real estate fund market (occupying 7.5%);

3. It is estimated that the tokenization market will account for US$0.7 trillion (occupying 10%) of the US$7 trillion private equity and venture capital fund market;

4. It is estimated that there is a tokenization market of US$1 trillion (2%) out of the US$42 trillion securities financing and mortgage activity market.

5. It is estimated that there will be a tokenization market of US$1 trillion in the US$12 trillion trade finance market.