What Corporate Digital Money Adoption Numbers Hide

On October 28, DBS reported that 88% of large businesses it surveyed were deploying or piloting tokenized money, but only 24% described their operations as at scale; another 43% were live in selected markets and 21% were in pilots. The DBS survey, run by EY, covered 422 leaders in 11 markets, was limited to companies with revenue above $500 million, and asked about all tokenized money. A separate EY-Parthenon survey of 383 corporates and 138 institutions found 18% using stablecoins in production and 13% piloting. The results differ because their questions and respondents differed, with the EY-Parthenon survey covering a broader range of company sizes and focusing on stablecoins and blockchain payments.