US banks expect ‘slow, then fast’ shift to digitized finance: Moody’s
Traditional financial institutions are actively preparing for a surge in adoption to avoid being caught flat-footed by a sudden shift in market demand, according to Moody’s.
Major US banks and financial market intermediaries expect the transition to a digitized financial system to start slowly, then hit a tipping point at which it accelerates, according to credit rating agency Moody’s Ratings.
In a report Tuesday, the agency said that during conversations with US banks and other financial market intermediaries, most viewed the shift as inevitable and agreed it would start “slow, then fast,” with tokenization volume increasing and extending to more market participants, assets and use cases.
“Across our conversations, industry leaders generally believed that broad asset tokenization will happen; the main uncertainties center around how quickly and in what sequence,” Moody’s said.