IMF Opens First Dedicated Chapter on Tokenised Finance; Global RWA Market Reaches $65 Billion
The IMF opens its first dedicated chapter on tokenised finance; the public RWA market reaches $65 billion. This marks RWA's formal entry into the global systemic risk monitoring framework, with compliance and liquidity set to become core barriers for industry differentiation.
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The International Monetary Fund (IMF), in its October Global Financial Stability Report (GFSR), opened a dedicated chapter for the first time in history to examine the asset tokenisation market. Data shows that as of the end of July 2026, the public tokenised RWA market, excluding repos and stablecoins, reached approximately $65 billion, with the daily average trading volume of tokenised repos exceeding $300 billion. In terms of structure, private and public credit accounted for the largest share (approximately $30.4 billion), followed by tokenised money market funds (approximately $17.5 billion).
Rhett Insight: The IMF's involvement marks that RWA has formally entered the global systemic risk monitoring framework. This is not only official recognition of tokenisation's potential to improve settlement efficiency, but also implies that compliance and liquidity management will become the core barriers for industry differentiation in the next stage.