Tokenisation has crossed a critical threshold in financial services, evolving from an innovation initiative into a strategic priority for major institutions across North America, according to a new industry study commissioned by Broadridge.
The 2026 Tokenisation Pulse Study, based on a survey of 200 financial services leaders, found that 84% of respondents now view tokenisation as strategically important to their organisations.
The figure rises to 90% among capital markets firms, underscoring growing confidence that digital asset infrastructure will play a significant role in the future of financial markets.
While enthusiasm is high, implementation remains in its early stages. Only 26% of surveyed firms report that tokenisation initiatives are currently in production.
However, nearly two-thirds expect to be ready to offer tokenised assets within the next two years, and 68% believe tokenisation will at least partially reshape financial markets within the next three to five years.
Rather than replacing traditional financial infrastructure, firms overwhelmingly expect a hybrid future.
Ninety-two percent of respondents believe digital and traditional assets will coexist for an extended period, while 69% plan to adapt existing systems rather than build entirely separate digital ecosystems.
The anticipated benefits vary by sector. Capital markets firms are focused on operational efficiencies and faster trading capabilities, while asset managers see opportunities to expand access to new asset classes and improve liquidity.
Wealth managers also view tokenisation as a way to broaden investment access while streamlining operations.
Among the industry’s largest institutions, those managing more than $250 billion in assets, confidence is particularly strong.
Every respondent in that category described digital assets as strategically important and expected tokenisation to become materially relevant within two years.
Nearly all plan to increase investment in tokenisation initiatives during that period.
The study also found capital markets firms are significantly ahead of other segments in implementing tokenisation strategies.
Forty-four percent report having live production systems or scaled operations, compared with 20% of asset managers and just 9% of wealth management firms.
Broadridge pointed to its Distributed Ledger Repo (DLR) platform as evidence of growing institutional adoption.
The platform processed approximately $364 billion in average daily volume in May 2026, a substantial increase from roughly $60 billion just 18 months earlier.
The data suggests that tokenisation is beginning to move beyond pilot projects and into production-scale financial infrastructure.
Despite growing momentum, firms continue to face significant obstacles.
Regulatory uncertainty emerged as the most commonly cited challenge, identified by 33% of respondents.
Operational complexity was another major concern, particularly among large institutions seeking to integrate tokenised assets into existing workflows and systems.
The study found that adoption is being driven less by direct client demand and more by broader market developments.
Initiatives from market infrastructure providers and exchanges, along with industry-wide momentum, were cited as key catalysts for action.
Not all asset classes are expected to adopt tokenisation at the same pace, however.
Respondents identified mutual funds, ETFs, and money market funds as the most likely candidates for significant tokenisation within the next five years.
Expectations were more measured for equities, private companies, and alternative assets, suggesting adoption will unfold gradually rather than through a rapid market-wide transformation.
The report compares tokenisation’s trajectory to that of exchange-traded funds, which became one of the investment industry’s most successful innovations while continuing to coexist with traditional fund structures.
The study concludes that tokenisation is entering a new phase in which implementation, ecosystem development, and operational integration will matter more than proving the technology itself.
