The rise of digital assets: A turning point for wealth management
The rapid growth of digital assets marks a decisive shift in wealth management. Global regulation, tokenisation and increasing adoption by high-networth investors are ushering the sector into a new era. Below are the key takeaways from Anne Maréchal’s analysis for Citywealth.
A Structured and Regulated Market
Digital assets are gaining maturity. It is now possible to operate a fully blockchain-based investment company and to offer tokenised instruments (equities, bonds, real estate, art, etc.).
Thanks to robust regulatory frameworks (CASP, the Pilot Regime, MiCA), investor confidence is rising significantly, both in Europe and in the United States.
MiCA: A Global Benchmark for Regulation
With MiCA, Europe now benefits from a comprehensive regulatory framework that secures credible market participants. The United States is moving in the same direction with the Genius Act and the Clarity Act. The result is growing international harmonisation, facilitating the integration of crypto-assets into the offerings of wealth managers.
Tokenisation: Efficiency, Access and Diversification
Tokenisation reduces intermediaries, streamlines transactions and opens up investments previously reserved for a small elite.
High-networth individuals (HNWIs) and family offices are increasingly turning to these instruments to diversify their portfolios or optimise cash management, now favouring MiCA-regulated players.
Stablecoins and RWAs: The Two Major Trends for 2025
Stablecoins are seeing record transaction volumes and growing regulatory recognition.
Real World Assets (RWAs) are experiencing rapid expansion, particularly through tokenised money market funds, bonds and real estate assets.
The EU Pilot Regime is accelerating the development of DLT-based platforms enabling the trading of tokenised securities without traditional intermediaries.
Blockchain and Sustainable Finance: A Strategic Alliance
Blockchain strengthens ESG transparency. Initiatives such as Dowgo make green investment more accessible through the tokenisation of renewable energy projects or carbon credits, with certified and automated reporting.
Security and Custody: New Industry Standards
Market volatility and cyber risks persist, but enhanced requirements for institutional-grade custody, audited reserves and transparency (notably under the Genius Act) are fostering a safer ecosystem for private investors.
The Growing Role of Private Banks
Major financial institutions are positioning themselves in this space: Société Générale Forge, HSBC Orion and BNP Paribas Neobonds are developing the infrastructures for tokenised securities and stablecoins.
With MiCA’s simplified authorisation process, banks will be able to integrate these services more easily into wealth and estate planning strategies.
