Report: Tokenization could reshape how companies manage treasury and cash

A new whitepaper from Standard Chartered and Zanders highlights a strategic shift in corporate treasury management, moving from experimental pilots to core integration of tokenized assets. By utilizing tokenized deposits, regulated stablecoins, and tokenized securities, corporations aim to replace legacy banking settlement cycles with near real-time liquidity management. The report notes that the tokenized money market fund sector has already reached $13 billion in assets, with BlackRock’s BUIDL and Franklin Templeton’s OnChain US Government Money Fund serving as primary drivers. While McKinsey and BCG project massive long-term growth for the tokenized asset market, the authors emphasize that mainstream adoption will be an evolutionary process rather than an immediate disruption. Significant hurdles remain, including fragmented global regulations, interoperability issues between banking networks, and operational risks related to custody and smart contracts. Commercial banks are expected to remain essential intermediaries, providing the necessary compliance and integration layers for corporate treasury systems. Ultimately, the report suggests that treasury departments must begin modernizing their governance and operating models now to orchestrate liquidity across both traditional and digital financial infrastructures.