latest research report from Citizens Bank of the United States shows that the merger and acquisition activities in the digital asset industry are accelerating and are expected to further speed up. With the expected passage of the GENIUS Act (stablecoin rules) and the CLARITY Act (market structure), the regulatory environment in the United States has shifted from "hostile" to supportive, driving banks, payment processors, and asset management companies to actively integrate blockchain infrastructure.

The report points out that Mastercard is in talks to acquire ZeroHash for up to $2 billion, and Coinbase is also close to completing a similar-sized acquisition of the London-based company BVNK. The complexity of technology, shortage of talent, and compliance requirements make acquisitions the most practical expansion path for traditional institutions.

The market value of stablecoins has increased from around $250 billion in mid-year to approximately $315 billion, expected to exceed $1 trillion. Citizens Bank predicts that by 2030, the tokenized market can generate nearly $100 billion in revenue annually, including trading, custody, and data services.