IMF flags stability risks in $65.1bn tokenised asset market
The IMF says tokenised real-world assets reached $65.1bn by 31 July 2026, warning that instant settlement and automated liquidations could speed up financial shocks.
Why it matters: The IMF's findings suggest the same instant settlement and automation that draw institutions to tokenisation could remove the buffers that help markets absorb shocks.
Key points
- Tokenised real-world assets, excluding repos and stablecoins, reached about $65.1bn by 31 July 2026.
- Tokenised credit stood at $30.4bn and money market funds at $17.5bn, while tokenised equities were $2.3bn.
- Tokenised repos averaged $303bn in daily transaction volumes, the IMF's October 2026 report says.
The International Monetary Fund has warned that growth in the tokenised asset market brings new vulnerabilities alongside its efficiency gains.
Within that total, tokenised credit accounted for $30.4bn and money market funds $17.5bn, while tokenised equities remained small at $2.3bn. Tokenised repos recorded average daily transaction volumes of $303bn, which the IMF links to growing institutional interest in moving collateral more efficiently. The report also found that more than half of tokenised equity trading took place outside regular US market hours, and about 80% of transactions involved less than one share.
The fund's central concern is that the features that make tokenisation attractive can also amplify stress.
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