Global credit rating agency Moody's predicted that asset tokenization and digital financial transformation by major US banks and financial institutions will start slowly and spread rapidly. According to Cointelegraph, Moody's stated in a recent report that "institutions currently see tokenization proceeding restrictively, focused on simple asset classes such as funds and short-term financial products, but anticipate the possibility of expanding to more assets and market participants in the future. Most large banks and financial infrastructure companies have already established dedicated digital asset organizations and are participating in pilot projects." It added, "The future financial system could develop along three paths: △gradual growth, △low growth, or △rapid expansion. The most likely scenario is one where existing banks and asset managers maintain their core roles after stablecoins and deposit tokens have spread. On the other hand, if tokenization spreads rapidly, stablecoins could become an on-chain payment infrastructure, potentially putting pressure on the profitability of some payment providers and banks."
