IMF Reports Tokenized Real World Assets Market Reaches $65 Billion

The International Monetary Fund (IMF) has highlighted the growing market for tokenized Real World Assets (RWA) in its October "Global Financial Stability Report." As of the end of July, the public market size for tokenized RWAs, excluding repos and stablecoins, is estimated at approximately $65 billion. This figure includes around $30.4 billion in credit, $17.5 billion in money market funds, and $2.3 billion in stocks.

The report reveals that the average daily trading volume of tokenized repos over a 30-day period reached $303 billion. It also notes that the issuance of tokenized stocks is heavily concentrated, with Ondo Finance and Backed Finance (xStocks) accounting for over 70% of the market. Additionally, more than half of the trades occur outside regular trading hours for U.S. stocks, with about 80% of trade sizes being less than one share. The volatility in this market is approximately 1.5 times greater than that of traditional markets, and liquidity is significantly lower.

While the IMF acknowledges that the scale of tokenized assets remains relatively small, it suggests that these assets could enhance efficiency in various sectors. However, the report warns that they may also introduce new channels for leverage accumulation and liquidity risks, potentially exacerbating technological and infrastructure vulnerabilities. The IMF emphasizes that current systemic risks are limited, but the reliance on stablecoins and tokenized deposits as primary settlement tools in the absence of interoperable central bank currencies could lead to issuer credit risk and concentration risk.

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Source: KLEA News