Broadridge has released the sixth edition of its annual “DLT in the real world” report, which tracks the adoption of distributed ledger technology (DLT) and digital assets across global financial markets. This year’s study found a shift in momentum towards the buy-side, as well as increased use cases across issuance and custody.
427 respondents took part in the 2025 survey. 36 per cent of them reported active DLT initiatives. North America leads adoption following a 72 per cent year-on-year (YoY) surge in activity, with 50 per cent of firms stating that they are running live DLT or digital asset projects. However, European booking centres remain the hub, with 50 per cent of projects still domiciled in Europe.
Digital asset adoption has grown at a rate of two to four times annually. Projects include tokenised funds, money market instruments, stablecoins, and bonds. Most firms are now focused on operational scalability compared to previous years, where the focus was on development.
The survey participants identified intraday liquidity, reduced transaction costs, and reduced failed payments as the top three outcomes of DLT and digital asset adoption, with votes of 85 per cent, 79 per cent, and 71 per cent respectively.
Reflecting growing interest in the space, budgets for DLT and digital assets have tripled since 2020. The average annual spend for digital assets reached US$2.2 million this year while DLT averaged US$1.8 million.
Looking forward to 2026, the study predicts that more organisations will progress from pilots to fully integrated, daily operations. Market participants will use DLT infrastructure to support higher transaction volumes, faster liquidity, and innovative financial products.
