Citi Securities Services Evolution 2025

Securities Services Evolution 2025 | 27 Figure 15: What is digital money being used for? Automation vs balance sheet Question: What is the #1 driver for your using these cash mechanisms (versus traditional forms of cash)? Expressed as: % of respondents citing each driver, by segment. Institutional Investor Asset manager Broker-dealer Bank Custodian Increased automation and acceleration of processes Reduction in risk (incl. removal of bilateral work arounds) Improved mobility (real-time delivery) Reduction in (overnight) funding provisioning/buffers Reduction in balance sheet costs (i.e. LCR) 67% 46% 41% 33% 28% 6% 19% 3% 1% 11% 14% 22% 13% 7% 15% 13% 21% 13% 28% 21% 21% 11% 47% Figure 16: Drivers of different cash mechanisms Stablecoins offer the most equal range of benefits Question: What is the #1 driver for your using these cash mechanisms (versus traditional forms of cash)? Expressed as: % of respondents citing each benefit, per digital cash mechanism. Digital payment mechanisms Tokenised deposits Crypto-currencies Central bank digital currency (CBDC) Non-bank issued stablecoins Money market funds Bank issued stablecoins Increased automation and acceleration of processes Improved mobility (real-time delivery) Reduction in risk Reduction in (overnight) funding provisioning/buffers Reduction in balance sheet costs 56% 27% 8% 10% 46% 28% 13% 9% 4% 45% 24% 18% 9% 4% 40% 29% 13% 16% 2% 39% 21% 6% 18% 15% 38% 21% 10% 25% 6% 33% 31% 22% 9% 4%