JPMorgan Chase's 2025 Report Cites $13 Trillion Tokenization Projection
The figure is an outside projection, not the bank's forecast. The report also records a 30-fold rise in transactions on its platforms since 2023.

JPMorgan Chase's 2025 annual report cites outside projections that the tokenized asset market could reach $13 trillion by 2030, but does not present the figure as the bank's own forecast.
Tokenized assets are digital tokens representing real-world assets. The report's Commercial & Investment Bank section describes growing use of them by companies and financial institutions. The $13 trillion figure is one projection for the broader market, rather than a target set by JPMorgan Chase.
J.P. Morgan's Commercial & Investment Bank operates Kinexys, a blockchain platform launched in 2019, and has developed deposit tokens and tokenized money market funds. By the time of the 2025 report, transactions on those platforms had risen 30-fold since 2023.
On Oct. 19, J.P. Morgan made its dollar-denominated JPM Coin (JPMD) available to institutional clients on Ethereum. The token represents U.S. dollar deposits at the bank and supports direct transfers between institutional clients using Ethereum-compatible wallets.