Key findings
Published 17 Jun 2025

DLT in the real world in 2025: key findings

Since 2020, the annual research provides unique, market-wide clarity on Distributed Ledger Technology (DLT) and digital assets.

DLT in the real world in 2025: key findings

In Partnership with

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DLT and digital assets have moved beyond experimentation. Firms are focusing on liquidity, commercial use cases and measurable returns. Tracking five years of industry data, these key findings show where adoption is accelerating, why investment is rising, and how firms are assessing value. 

Key DLT outcome

Liquidity
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The shift from overnight to intraday is redefining what firms expect DLT to deliver in practice.

Intraday liquidity has overtaken cost savings as the primary driver of DLT investment.

DLT spend today

Investment
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North America is outspending Europe and Asia by more than 200% – reflecting stronger regulatory clarity and commercial momentum.

Firms expect investment payback within two years as commercial adoption grows.

DLT outperforms traditional

Performance
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Commercial digital cash adoption is growing by 17% a year – performance confidence is now translating into active use.

Adoption is moving beyond early pilots as firms report measurable commercial benefits.

Digital assets are no longer being judged on theory alone. Firms increasingly want to know where Distributed Ledger Technology (DLT) is delivering practical value, how quickly adoption is scaling, and what outcomes justify continued investment. 

What is driving the next phase of DLT and digital asset adoption in capital markets? Which use cases are moving ahead fastest, and where are firms seeing the clearest commercial return?

The research, produced in partnership with International Securities Services Association (ISSA) and sponsored by Accenture, Broadridge and Taurus, highlights:

  • 85% of respondents identify intraday liquidity as the key outcome of DLT and digital assets. 45% remain focused on issuance and custody as core use cases

  • Firms are spending an average of US dollar (USD) 2.2 million on DLT and digital asset initiatives. North America is outspending Europe and Asia by more than 200%

  • 67% see better performance: up to two-thirds of firms say DLT and digital assets perform better than traditional alternatives

  • Commercial digital cash adoption is increasing by 17% year on year as firms look for more practical post-trade applications

  • 43% of firms now use permissioned chains as a mainstream part of their approach rather than as a limited pilot

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