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波士顿咨询(BCG):2026数字资产未来发展报告(英文版)(68页).pdf

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1、FINANCIAL INSTITUTIONSBCG FLAGSHIP REPORTThe Future of Digital Assets May 2026 By Chris Schmid,Inderpreet Batra,and Roy Choudhury2 BOSTON CONSULTING GROUPMarkus Ampenberger Managing Director and Partner MunichCarlos Bravo Director BCG Vantage MadridFrdric Brugre Managing Director and Partner ParisKa

2、j Burchardi Platinion Managing Director AmsterdamDavid Chan Managing Director and Partner Hong KongJoo Paulo Curado Managing Director and Partner So PauloDr.Laurin Karl Frommann Managing Director and Partner ZurichAssia Gardiner Partner and Associate Director ZurichBernhard Gehra Managing Director a

3、nd Senior Partner New YorkYue Hong Zhang Managing Director and Partner Hong KongKunal Jhanji Managing Director and Partner LondonDr.Bernhard Kronfellner Partner and Associate Director ViennaSander van Loosbroek Platinion Director AmsterdamTibor Mrey Managing Director and Partner ViennaArjun Nath Par

4、tner and Associate Director TorontoAlexander Paddington Managing Director and Partner New YorkUrs Rahne Managing Director and Partner BerlinHumza Samad Partner LondonChristian N.Schmid Managing Director and Senior Partner MunichGonzalo Troncoso Fuentes Managing Director and Partner Santiago Pascal V

5、ogt Partner and Director CologneMax Zevin Managing Director and Partner New YorkIvana Zupa Managing Director and Partner ZurichNew York,May 18,2026 Chris Schmid,Inderpreet Batra,Roy ChoudhurySince its inception,the BCG Digital Asset Working Group has been an invaluable source of domain expertise,ins

6、ight generation,and problem-solving on the most complex topics,as well as a strong foundation of collaboration driven by a shared commitment to delivering excellence to our global clients.This flagship report would not have been possible without this collective depth of knowledge and the groups exte

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1. **市场现状**:加密资产(~$3万亿)和稳定币(~$300亿)主导当前市场,代币化真实世界资产(RWAs,~$30亿)规模较小但增长潜力最大。 2. **战略意义**:数字资产是银行的战略性基础设施转型,非边缘创新,可能威胁交易银行业务、净利息收入及传统结算经济。 3. **未来场景**:到2035年,RWAs可能占全球可投资资产的16%,银行在快速扩张场景下面临资产负债表缩小10%、收入下降14%、利润减少30%的风险。 4. **银行机遇**:通过钱包/托管、风险控制及数字资产平台,可保留选择权;资产管理和交易业务潜在收益显著(如G-SIB利润或增$10亿+)。 5. **行动建议**:量化风险、明确业务线野心、构建无遗憾能力(如托管、合规),避免过早押注单一技术路径。
数字资产未来? 银行如何应对? 机遇还是威胁?
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