IMF: Tokenization may reshape the global financial architecture, policy choices are crucial.

Deep Tide TechFlow news, July 03, according to the International Monetary Fund (IMF) official blog post, IMF Monetary and Capital Markets Department Director Tobias Adrian wrote that asset tokenization is not just a technological upgrade, but will fundamentally change the structure of the global financial system. When financial assets are transferred to a shared digital ledger, the three major steps of execution, clearing, and settlement can be completed simultaneously, with risks shifting from institutions like banks' balance sheets to platforms and smart contracts.

The article also warns that while tokenization eliminates friction, it also removes buffer mechanisms, making liquidity needs real-time and risk transmission faster. For emerging market countries, the risks of rapid cross-border capital flows and erosion of monetary sovereignty are particularly pronounced. The IMF emphasizes that current policy choices will determine whether tokenized finance strengthens or splits the global financial system, and countries need to quickly form coordination mechanisms on core issues such as the roles of public and private money, interoperability, legal frameworks, and liquidity support.