The financial sector is facing a historic transformation driven by the tokenisation of deposits, stablecoins, and the digital euro. According to the World Payments Report 2027 from Capgemini Research Institute, it is expected that these instruments will represent approximately 4% of the global payment volume by 2030, affecting highly profitable revenue sources such as currency exchange commissions, international bank transactions, the profitability of funds in transit, and processing fees.
The main cause lies in the inefficiencies of the current model: 74% of large corporations consider cross-border payments too slow -with an average delay of 3.5 days- and are seeking alternatives to avoid the 2% loss of value incurred in each transaction.
What the report defines as "accelerated smart money", which includes stablecoins, tokenised deposits, and Central Bank Digital Currency (CBDC), allows money to do more than just move between accounts. By enabling 24/7 operations, integrated rules, and real-time settlements, these instruments reduce friction in cross-border payment flows.
The key figure is that currently there are up to $4 trillion sitting in settlement accounts that generate nothing. With these new instruments, that money would be freed up for lending and investment.
Corporate demand for these instruments continues to grow and banks remain the preferred providers. In fact, 71% prefer to work with their bank if it costs the same, but 60% would switch to a non-bank provider if their bank does not keep pace with evolution. Moreover, 36% of B2B payments from these companies go through non-bank entities.
"Transaction volumes make it impossible for banks to remain on the sidelines. With $230 billion at stake, banks must decide what role they want to play in this emerging ecosystem. A select group of banks has already made its decision and is shaping the standards and governance that will define the market," says Jeroen Hölscher, Global Head of Payment Services at Capgemini.
For this reason, banking executives identify tokenised deposits as the main short-term priority, due to their ability to remain on balance sheets and fit within existing regulations. However, only 21% of banks —classified as leaders— are actively expanding at least one accelerated smart money instrument, while the remaining 79% are still assessing their position.
However, even among leaders, significant structural deficiencies persist. Just over half (56%) claim to have the necessary talent and skills to develop and maintain digital assets, nor the technical preparedness and capabilities needed to support tokenisation, smart contracts, and interoperability between financial networks.
In its 22nd edition, the Capgemini Research Institute report surveyed over 1,100 large companies with revenues exceeding $1 billion. On average, respondents indicate that they operate in 14 markets, maintain 11 banking relationships, and carry out 34% of their B2B payment volume through cross-border transactions.
