IMF: tokenized assets reach $65.1 billion, automatic clearing mechanism may amplify financial shocks

The International Monetary Fund (IMF) stated in its October 2026 Global Financial Stability Report that as of July 31, the size of tokenized real-world assets reached $65.1 billion, including $30.4 billion in tokenized credit, $17.5 billion in money market funds, and $2.3 billion in tokenized stocks. Automated clearing, real-time settlement, continuous trading, and programmable collateral accelerate forced liquidation and amplify financial shocks when the market is under pressure. Cross platform repeated use of collateral increases leverage, transmitting risks to different institutions and markets. The IMF lists legal certainty, regulatory clarity, blockchain network interoperability, and reliable settlement assets as obstacles to the application of tokenization markets, and recommends adopting technology neutral regulation, strengthening supervision, setting up circuit breakers, and preventing automatic clearing instability.