IMF Warns Tokenization Will Stay Peripheral Without Ownership Clarity

The International Monetary Fund (IMF) has raised concerns about tokenized assets, warning that they will remain peripheral unless markets resolve issues surrounding ownership and settlement. According to Tobias Adrian, Financial Counsellor and Director of the IMF's Monetary and Capital Markets Department, tokenization is more than just a technology upgrade - it changes the structure of the financial system itself.

The IMF emphasizes the importance of legal clarity in resolving these issues. Without clear rules on ownership, settlement, and jurisdiction, tokenization will remain fragmented and peripheral, Adrian said.

A recent report by BeInCrypto found that the $60 billion market for tokenized real-world assets (RWAs) is fractured across regulatory regimes and largely inaccessible to US retail investors. The report tracked roughly $60 billion in RWAs as of May 31, excluding stablecoins and repurchase agreements.

The market splits into several parallel markets, divided by regulatory regime, geography, and investor status. About 97% of the value is either inaccessible to US retail investors or carries no retail-grade regulation. Only $1.7 billion is open to retail buyers, while accredited US investors can access roughly $8.3 billion.