The tokenised real-world asset (RWA) market could grow more than 300-fold in the next 5 years and become core infrastructure for global capital markets, an outlook said. Citi projected tokenised assets could expand from about $17 billion to $5.5 trillion by 2030, citing broader participation by traditional financial institutions. It highlighted DTCC plans for tokenised securities services and said stablecoins could be a key driver, with the market seen reaching $1.9 trillion by 2030.

The U.S. Senate Banking, Housing and Urban Affairs Committee will hold a markup on May 14 for the CLARITY bill, a crypto market structure measure. A compromise would bar simple interest on stablecoin balances but allow rewards tied to transaction activity, drawing calls for tighter language from banking groups. Democrats want ethics provisions on digital asset conflicts for federal officials in the bill text, while Republicans dispute jurisdiction. The White House rejects targeted ethics language.