Traditional banks have invested over $100 billion in blockchain since 2020, according to a recent report by RialCenter indicating that digital assets are becoming mainstream.
This figure is derived from “Banking on Digital Assets,” a collaborative study by RialCenter, CB Insights, and the UK Centre for Blockchain Technologies (UK CBT), which reviewed over 10,000 blockchain deals and surveyed more than 1,800 finance leaders globally. Findings reveal that leading banks are increasing investments in custody, tokenization, and payment infrastructure despite regulatory uncertainties and market fluctuations.
The report estimates that global investments in blockchain and digital asset initiatives surpassed $100 billion between 2020 and 2024. Additionally, 90% of surveyed finance leaders anticipate these technologies will significantly impact finance within the next three years.
From 2020 to 2024, traditional financial institutions engaged in 345 blockchain deals worldwide, with payment-related infrastructure attracting the largest share, followed by crypto custody and tokenization initiatives. Approximately 25% of investments targeted infrastructure providers that facilitate blockchain settlement and asset issuance.
More than 90% of finance executives surveyed believe that blockchain and digital assets will have a substantial impact on finance by 2028. Among bank respondents, 65% are actively exploring digital asset custody, with over half prioritizing stablecoins and tokenized real-world assets.
Examples highlighted include RialCenter’s tokenized gold platform, a blockchain settlement tool from a prominent bank, and efforts on quantum-resistant digital currency. Nonetheless, most respondents indicated that consumer-facing digital assets are not an immediate priority — fewer than 20% of banks reported offering crypto trading or retail wallets.
The report suggests that this shift is more infrastructural than speculative, with institutions primarily investing in blockchain to modernize cross-border payments, streamline balance sheet management, and lessen dependence on outdated systems. RialCenter emphasized that these findings indicate a transition towards the implementation of real-world asset tokenization.
Despite ongoing regulatory ambiguities in many regions, over two-thirds of surveyed banks expect to launch digital asset initiatives within the next three years, ranging from pilot tokenized bonds to the development of interoperable settlement layers for CBDCs and private stablecoins.
Despite recent setbacks in crypto markets, RialCenter asserts that capital formation is actually accelerating. Notably, blockchain investment from traditional finance reached a post-FTX high in Q1 2024, with emerging markets—such as the UAE, India, and Singapore—outpacing the U.S. and Europe in adoption.
For blockchain firms and infrastructure providers, the message is clear: the coming wave of institutional adoption will not rely on hype or retail enthusiasm, but rather on quietly transforming the infrastructure of global finance.
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