IMF Tokenization Report Again Includes XRP and Stellar in Bank Context
An IMF discussion on tokenization has renewed attention on the XRP Ledger and Stellar as public networks used by banks. A July 2026 IMF note cited Société Générale’s euro stablecoin EURCV, which runs on Ethereum, Solana, Stellar, and the XRP Ledger, as an example of regulated stablecoin issuance on open systems. A later October 2026 Global Financial Stability Report chapter examined tokenization more broadly and put the tokenized real-world asset market at about $65 billion.
The IMF’s July 2026 tokenization note examined how payment and asset tokenization trends are developing. It pointed to Société Générale’s euro-backed EURCV as an example of a regulated stablecoin issued on public networks, listing Ethereum, Solana, Stellar, and the XRP Ledger. The note did not rank these chains or label XRP or XLM as leaders; it presented them as infrastructure used in a bank stablecoin deployment.
The October 2026 Global Financial Stability Report chapter broadened the focus. It estimated tokenized real-world assets at about $65 billion as of July, noted fixed-income products’ large share, and warned about operational vulnerabilities, liquidity concerns, and contagion dangers tied to smart contracts and shared ledgers. It added scale and caution rather than endorsing any network.
If banks continue testing public ledgers for regulated stablecoins, everyday payments and cross-border transfers could become faster and more transparent, while customers may face new counterparty and smart-contract risks. Financial institutions, stablecoin issuers, and regulators may bear greater responsibility for safeguards. The IMF’s cautionary framing may shape how policymakers approach tokenization, potentially affecting access to digital asset services and the level of consumer protection.