[IMF: Tokenization Could Reshape Financial Settlement and Stability, But Fragmented Regulation May Bring New Risks] According to Cointelegraph, Tobias Adrian, Financial Counselor and Director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF), stated in a blog post that tokenization could fundamentally reshape the way financial markets operate. By integrating assets, settlement, and record-keeping into a shared ledger, settlement processes that previously took several days could be compressed into near-instant completion. Adrian also warned that tokenization shifts risks from traditional financial intermediaries to underlying infrastructure (including smart contracts, distributed ledgers, and service providers). Without unified standards and coordinated regulation, tokenized financial markets could become fragmented due to platform incompatibility, leading to new systemic risks.