The Bank of England has warned that the growth of asset tokenization could lead to greater financial stability risks from unbacked crypto and stablecoins. The central bank noted that banks are becoming more positive about using crypto technologies for the tokenization of money and real-world assets. Tokenization is a growing part of the crypto ecosystem and is predicted to become a $10 trillion market by 2030. However, the increasing size of the market could pose risks for the wider financial environment, and the BOE has called for more global cooperation to reduce these risks.