The world of digital assets stands at a critical juncture, with innovative infrastructure emerging as both a catalyst and constraint for broader adoption. As digital assets gain mainstream traction, fundamental gaps in interoperability, settlement systems, and payment mechanisms are inhibiting operational efficiency and market maturity.

Our survey respondents identified limited interoperability between blockchain platforms (45%) and the absence of robust on-chain settlement systems (45%) as the most pressing challenges. These issues hinder seamless data and asset transfers across networks, stifling innovation and undermining the potential for a unified financial system. An additional 43% of respondents emphasised the inefficiency of current payment rails, underlining the need for agile, digital-native cash solutions that enable real-time transactions.

Despite these challenges, organisational engagement with blockchain infrastructure is gaining momentum. Nearly half (45%) of our respondents indicated that their firms are actively exploring blockchain solutions, while 31% have already achieved partial integration with plans for further expansion. Notably, none of the respondents reported having no plans for integration—an indicator of widespread institutional interest in leveraging blockchain for competitive advantage.

The journey to unlocking the full potential of digital asset infrastructure, however, remains fraught with obstacles. Regulatory uncertainty continues to loom large, with one-third of respondents (33%) citing it as the primary barrier to development. This sentiment reinforces the urgency for clear, harmonised regulatory frameworks to support innovation without compromising compliance. In parallel, insufficient institutional-grade custody and security solutions (31%) persist as critical concerns, especially as digital assets demand the same—or greater—levels of protection as traditional financial instruments.

Real-world implementations provide further insight into how firms are navigating these complexities. Several organisations are piloting on-chain settlement strategies, from trade finance applications that enhance traceability and mitigate fraud, to hybrid models that combine on-chain trade execution with off-chain cash settlement for improved reconciliation. Others are experimenting through collaborations with regulatory sandboxes like the UK’s FMI initiative or Swiss DLT exchanges, aiming to balance compliance with scalability. These efforts underscore a strong industry drive to innovate while maintaining operational integrity and risk management.

Looking forward, institutional DeFi and AI will play a pivotal role in shaping the next phase of infrastructure development. DeFi offers opportunities for yield generation and automated asset management through smart contract vaults and programmable safeguards. Simultaneously, AI is being leveraged across multiple fronts: 67% of organisations are automating compliance tasks, while over half are developing predictive analytics tools and enhancing user engagement via intelligent digital interfaces. These trends highlight a dual focus on innovation and resilience, positioning digital asset infrastructure for a future defined by agility, security, and connectivity.