2023-04-05 07:59:00 ET
If you thought Web3 or the metaverse were going to spark the next big crypto rally, think again. According to Citigroup (NYSE: C) , the next major wave of crypto market adoption will be led by asset tokenization, which is the process of transforming real-world assets into digital assets that can be stored, accessed, and traded via the blockchain.
Citigroup predicts that asset tokenization could become a $5 trillion market opportunity by 2030. As Wall Street gets behind this trend, says Citigroup, the popularity of asset tokenization will explode in areas from real estate to private equity and venture capital. Because asset tokenization relies on blockchain-based technology to work, it's only natural to ask: Which coins or tokens could benefit from what Citigroup is calling a "killer use case" for crypto?
Although Bitcoin is the one cryptocurrency that is most often associated with Wall Street and financial markets, it will likely play little or no role in asset tokenization. There are several reasons for this, with the most obvious one being that Bitcoin was not designed to support smart contracts . These smart contracts are small pieces of executable computer code, and they are the reason why some people refer to cryptos with these capabilities as "programmable money."
For further details see:
Which Coins Will Benefit From Wall Street's $5 Trillion Crypto Prediction?