Adoption by capability
What share of institutions is live in each capability?
Source: 51 Terminal + 51 research · 81 banks · 21 July 2026
Live
51 Institutional Digital Asset Adoption Index
Compare digital asset adoption across leading financial institutions.
The index compares 103 financial institutions across eight capabilities using linked public evidence and like for like peer groups.
01
27% live
Tokenization maturity among banks.
02
Only 4% scaled
Documented tokenization at material scale.
03
25% live ETP access
Client access among banks.
Peer group ranking
Compare digital asset adoption among banks.
None verified Exploring Pilot Live Scaled
Leader 80 to 100Advanced 65 to 79Developing 45 to 64Early 0 to 44
Showing 48 of 81 matching institutions.
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Showing 48 of 81 banksEqual scores share the same peer position
Adoption analysis
Where financial institutions are live and where they are still experimenting.
Institutional strategy and delivery
Which institutions turn strategy into live digital asset products?
Right means stronger strategy. Up means more mature products.
More mature digital asset products and services
Execution ahead0 institutionsOperating maturity leads visible strategy
Operational leaders20 institutionsStrategy and operating maturity are both high
Earlier stage0 institutionsPublic evidence remains concentrated in exploration and pilots
Committed builders10 institutionsStrategy is visible while operating breadth is still forming
Stronger digital asset strategy
How to read this matrix
Top 30 is the default within the selected peer group. Operating maturity is the mean of the seven product capabilities.
Who qualifies?
Client facing banks, custodians, asset managers, insurers and market infrastructure qualify.
- Institutions are ranked only against comparable peer groups.
- Digital asset native institutions and vendors are reserved for a separate benchmark.
- Controlled subsidiaries are consolidated into the parent institution.
- Public bodies, hedge funds, corporate issuers, standalone funds, protocols and vendors are excluded.
What is scored?
Eight capabilities are weighted equally. Each receives a maturity stage from 0 to 4.
Overall scoremean stage ÷ 4 × 100
Markets, ETP access, custody, digital money, tokenization, issuance, investment products and strategy are scored separately.
How does maturity work?
The same definitions apply to every institution and capability. The highest supported stage is used. Source volume alone does not raise a stage.
None verifiedNo qualifying public evidence supports activity in this capability.0
ExploringResearch, announced intent, investment or partnership without a live client service.25
PilotA proof of concept, sandbox or limited pilot is operating with a defined scope.50
LiveA product or service is active and available to a defined client or market segment.75
ScaledA live capability operates across multiple markets or client segments, or has material production use.100
What evidence counts?
- The evidence must name the institution and the activity.
- The source must be dated and attributable.
- Primary publications and regulatory filings take priority.
- Secondary sources require clear attribution to the institution.
- Scaled requires matching 51 Insights coverage or a named analyst approval.
What are the limits?
- Scores reflect public evidence available by the index date.
- Private activity is not inferred.
- None verified means no qualifying evidence, not no activity.
- Corrections are reviewed when a source is submitted.
Research every institution in 51 Terminal.
Open the underlying products, initiatives, partnerships, acquisitions, and primary sources used to assess institutional digital asset adoption.