The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Digital transformation in financial markets is no longer theoretical. Distributed ledger technology (DLT), including blockchain, has long promised to revolutionise financial markets, but widespread adoption has lagged. The fintech blockchain market was valued at just $3.4 billion in 2024, yet projections nearing $50 billion by 2030 suggest a tipping point is approaching. Still, institutional use cases remain fragmented, untested at scale and operationally uncertain.
Meanwhile, central banks are
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