CoinMeta data: The International Monetary Fund ( IMF ) pointed out in its "Global Financial Stability Report" released in October 2026 that as of July 31, the scale of tokenized real-world assets had 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. The report emphasized that automatic clearing, instant settlement, continuous trading, and programmable collateral may accelerate forced liquidations and amplify financial shocks during times of market stress, while the cross-platform reuse of collateral increases leverage, allowing risks to spread to different institutions and markets. IMF also noted that legal certainty, regulatory clarity, blockchain network interoperability, and reliable settlement assets are obstacles to the application of tokenized markets, and recommended adopting technology-neutral regulation, strengthening supervision, and setting circuit breakers to prevent instability in automatic clearing.