A new survey conducted by Ripple (CRYPTO: $XRP) has found that 72% of financial leaders in the U.S. view cryptocurrencies as essential to remaining competitive.
In a statement, Ripple said that the survey results show that digital assets are moving closer to the centre of the financial services industry.
The survey polled more than 1,000 finance leaders across banks, asset managers, and financial technology concerns, and found that 72% of firms feel they must offer crypto to be competitive.
• Ripple, The Company Behind XRP, Is Valued At $50 Billion
Ripple said that stablecoins rank as the top digital asset use case, with 74% of respondents saying that stablecoins can boost cash-flow efficiency and unlock working capital.
In its statement, Ripple added that the global stablecoin market cap moved above $300 billion U.S. earlier in March as adoption expanded across payments, trading, and settlements.
The stablecoin market remains dominated by Tether’s USDT (CRYPTO: $USDT) and USDC (CRYPTO: $USDC) issued by Circle Internet Group (NYSE: $CRCL).
The survey also found rising interest in tokenization among banks and asset managers.
The poll found that banks ranked token lifecycle management at 82%, while asset managers placed primary distribution at 80%.
The results show that many firms are now focused on the systems needed to support digital assets, said Ripple.
Lastly, security remains top of mind for the finance industry as it relates to cryptocurrencies such as Bitcoin (CRYPTO: $BTC).
Ripple said 97% of respondents viewed certifications such as ISO and SOC II as important or very important to the future of the crypto industry.