IMF warns tokenized markets could amplify financial risks

IMF warns tokenized markets could amplify financial risks

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Despite their limited scale, tokenized equities are attracting investors seeking around-the-clock trading and fractional ownership.

The IMF found that more than half of tokenized equity trading occurred outside regular US market hours, while roughly 80% of trades involved less than one share.

The IMF also found that overnight price movements in tokenized equities appeared in traditional stock prices shortly after markets opened, suggesting tokenized markets could provide useful price signals outside regular trading hours.

However, the IMF said that tokenized equities were significantly less liquid and exhibited roughly 1.5 times the realized volatility of their traditional counterparts.

It warned that as tokenized markets grow, greater interconnectedness and leverage could amplify traditional financial risks, including fire sales, liquidity runs and contagion.

The IMF called for clearer legal and regulatory frameworks, greater interoperability between tokenized and traditional financial systems, and safeguards to address emerging vulnerabilities as adoption expands.

For now, however, the report noted that systemic risks currently remain limited because adoption is still relatively small.

This is not the first time the IMF has raised concerns about tokenization.

In November 2025, it warned that automated trading and interconnected smart contracts could amplify market volatility and flash crashes.

In April, it cautioned that faster settlement could accelerate financial stress, while a July analysis highlighted systemic risks from fragmented platforms and insufficient regulatory coordination.

Analiz: Piyasa hareketliliği devam ediyor.