Current outcome
The IMF’s October GFSR now includes a dedicated tokenization chapter, adding overall tokenized RWA market size (~$65B), tokenized repo volumes (~$303B daily) and warnings that tokenization could become a new channel for leverage and maturity/liquidity mismatches, while still assessing systemic risk as limited.
Progress timeline
2 material updates- #01
Tokenized Stocks Show Real Demand But Remain Volatile and Illiquid, IMF Finds
The IMF's latest Global Financial Stability Report finds that tokenized stocks see genuine retail demand — most trading happens outside U.S. market hours and in fractional amounts — but these tokens are about 1.5 times more volatile and less liquid than the underlying equities, with systemic risk still contained and regulators urged to consider circuit breakers for 24/7 trading.
Source evidence: Decrypt
- #02
【IMF：代币化 RWA 市场规模约 650 亿美元，或成杠杆与流动性风险新渠道】
The IMF’s October GFSR dedicates its first special chapter to tokenization: tokenized RWA public market (ex repo/stablecoins) was ~$65B as of end-July (credit ~$30.4B, MMFs ~$17.5B, equities ~$2.3B) with tokenized repo 30-day average daily volume at $303B; it warns tokenized assets could become a new channel for leverage and liquidity/maturity mismatches, and flags stablecoin/tokenized-deposit settlement concentration/credit risks.
State after update: The IMF’s October GFSR now includes a dedicated tokenization chapter, adding overall tokenized RWA market size (~$65B), tokenized repo volumes (~$303B daily) and warnings that tokenization could become a new channel for leverage and maturity/liquidity mismatches, while still assessing systemic risk as limited.
Source evidence: foresightnews