diff --git a/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch b/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch
similarity index 100%
rename from .yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch
rename to .yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch
diff --git a/app/scripts/constants/sentry-state.ts b/app/scripts/constants/sentry-state.ts
index 6f960a496b3d..5146e38e8a41 100644
--- a/app/scripts/constants/sentry-state.ts
+++ b/app/scripts/constants/sentry-state.ts
@@ -355,6 +355,9 @@ export const SENTRY_BACKGROUND_STATE = {
       [AllProperties]: false,
     },
   },
+  TokenBalancesController: {
+    tokenBalances: false,
+  },
   TokenRatesController: {
     marketData: false,
   },
diff --git a/app/scripts/metamask-controller.js b/app/scripts/metamask-controller.js
index 6e2ba119053c..cc7eaa12d3d1 100644
--- a/app/scripts/metamask-controller.js
+++ b/app/scripts/metamask-controller.js
@@ -12,6 +12,7 @@ import {
   CodefiTokenPricesServiceV2,
   RatesController,
   fetchMultiExchangeRate,
+  TokenBalancesController,
 } from '@metamask/assets-controllers';
 import { JsonRpcEngine } from '@metamask/json-rpc-engine';
 import { createEngineStream } from '@metamask/json-rpc-middleware-stream';
@@ -685,6 +686,7 @@ export default class MetamaskController extends EventEmitter {
         'AccountsController:selectedEvmAccountChange',
         'PreferencesController:stateChange',
         'TokenListController:stateChange',
+        'NetworkController:stateChange',
       ],
     });
     this.tokensController = new TokensController({
@@ -893,6 +895,28 @@ export default class MetamaskController extends EventEmitter {
       };
     };
 
+    const tokenBalancesMessenger = this.controllerMessenger.getRestricted({
+      name: 'TokenBalancesController',
+      allowedActions: [
+        'NetworkController:getState',
+        'NetworkController:getNetworkClientById',
+        'TokensController:getState',
+        'PreferencesController:getState',
+        'AccountsController:getSelectedAccount',
+      ],
+      allowedEvents: [
+        'PreferencesController:stateChange',
+        'TokensController:stateChange',
+        'NetworkController:stateChange',
+      ],
+    });
+
+    this.tokenBalancesController = new TokenBalancesController({
+      messenger: tokenBalancesMessenger,
+      state: initState.TokenBalancesController,
+      interval: 30000,
+    });
+
     const phishingControllerMessenger = this.controllerMessenger.getRestricted({
       name: 'PhishingController',
     });
@@ -2413,6 +2437,7 @@ export default class MetamaskController extends EventEmitter {
       GasFeeController: this.gasFeeController,
       TokenListController: this.tokenListController,
       TokensController: this.tokensController,
+      TokenBalancesController: this.tokenBalancesController,
       SmartTransactionsController: this.smartTransactionsController,
       NftController: this.nftController,
       PhishingController: this.phishingController,
@@ -2468,6 +2493,7 @@ export default class MetamaskController extends EventEmitter {
         GasFeeController: this.gasFeeController,
         TokenListController: this.tokenListController,
         TokensController: this.tokensController,
+        TokenBalancesController: this.tokenBalancesController,
         SmartTransactionsController: this.smartTransactionsController,
         NftController: this.nftController,
         SelectedNetworkController: this.selectedNetworkController,
@@ -3229,6 +3255,7 @@ export default class MetamaskController extends EventEmitter {
       nftController,
       nftDetectionController,
       currencyRateController,
+      tokenBalancesController,
       tokenDetectionController,
       ensController,
       tokenListController,
@@ -4047,6 +4074,14 @@ export default class MetamaskController extends EventEmitter {
       tokenListStopPollingByPollingToken:
         tokenListController.stopPollingByPollingToken.bind(tokenListController),
 
+      tokenBalancesStartPolling: tokenBalancesController.startPolling.bind(
+        tokenBalancesController,
+      ),
+      tokenBalancesStopPollingByPollingToken:
+        tokenBalancesController.stopPollingByPollingToken.bind(
+          tokenBalancesController,
+        ),
+
       // GasFeeController
       gasFeeStartPollingByNetworkClientId:
         gasFeeController.startPollingByNetworkClientId.bind(gasFeeController),
@@ -6681,6 +6716,7 @@ export default class MetamaskController extends EventEmitter {
       this.tokenRatesController.stopAllPolling();
       this.tokenDetectionController.stopAllPolling();
       this.tokenListController.stopAllPolling();
+      this.tokenBalancesController.stopAllPolling();
       this.appStateController.clearPollingTokens();
     } catch (error) {
       console.error(error);
@@ -6921,6 +6957,9 @@ export default class MetamaskController extends EventEmitter {
     await this._createTransactionNotifcation(transactionMeta);
     await this._updateNFTOwnership(transactionMeta);
     this._trackTransactionFailure(transactionMeta);
+    await this.tokenBalancesController.updateBalancesByChainId({
+      chainId: transactionMeta.chainId,
+    });
   }
 
   async _createTransactionNotifcation(transactionMeta) {
diff --git a/package.json b/package.json
index ae2ebbd338a9..04098328933f 100644
--- a/package.json
+++ b/package.json
@@ -292,7 +292,7 @@
     "@metamask/address-book-controller": "^6.0.0",
     "@metamask/announcement-controller": "^7.0.0",
     "@metamask/approval-controller": "^7.0.0",
-    "@metamask/assets-controllers": "patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A43.1.1%23~/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch%3A%3Aversion=43.1.1&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch",
+    "@metamask/assets-controllers": "patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A44.0.0%23~/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch%3A%3Aversion=44.0.0&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch",
     "@metamask/base-controller": "^7.0.0",
     "@metamask/bitcoin-wallet-snap": "^0.8.2",
     "@metamask/browser-passworder": "^4.3.0",
diff --git a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json
index 999dce99ca0c..e47cfcd806b9 100644
--- a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json
+++ b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json
@@ -314,6 +314,9 @@
       "swapsFeatureFlags": {}
     }
   },
+  "TokenBalancesController": {
+    "tokenBalances": "object"
+  },
   "TokenListController": {
     "tokenList": "object",
     "tokensChainsCache": {
diff --git a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json
index acd9d6f8d074..7fd8501eb2b8 100644
--- a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json
+++ b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json
@@ -181,6 +181,7 @@
       "0xe705": "object",
       "0xe708": "object"
     },
+    "tokenBalances": "object",
     "preventPollingOnNetworkRestart": false,
     "tokens": "object",
     "ignoredTokens": "object",
diff --git a/ui/components/app/assets/asset-list/asset-list.test.tsx b/ui/components/app/assets/asset-list/asset-list.test.tsx
index 329c29a6108e..fd65e740238d 100644
--- a/ui/components/app/assets/asset-list/asset-list.test.tsx
+++ b/ui/components/app/assets/asset-list/asset-list.test.tsx
@@ -64,6 +64,8 @@ jest.mock('../../../../hooks/useIsOriginalNativeTokenSymbol', () => {
 jest.mock('../../../../store/actions', () => {
   return {
     getTokenSymbol: jest.fn(),
+    tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+    tokenBalancesStopPollingByPollingToken: jest.fn(),
   };
 });
 
diff --git a/ui/components/app/wallet-overview/btc-overview.test.tsx b/ui/components/app/wallet-overview/btc-overview.test.tsx
index 62e6f5ff82b3..671e03a87ea8 100644
--- a/ui/components/app/wallet-overview/btc-overview.test.tsx
+++ b/ui/components/app/wallet-overview/btc-overview.test.tsx
@@ -29,6 +29,8 @@ jest.mock('../../../store/actions', () => ({
   handleSnapRequest: jest.fn(),
   sendMultichainTransaction: jest.fn(),
   setDefaultHomeActiveTabName: jest.fn(),
+  tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+  tokenBalancesStopPollingByPollingToken: jest.fn(),
 }));
 
 const PORTOFOLIO_URL = 'https://portfolio.test';
diff --git a/ui/components/app/wallet-overview/eth-overview.test.js b/ui/components/app/wallet-overview/eth-overview.test.js
index 539cfbb6c59f..a8c490b923c6 100644
--- a/ui/components/app/wallet-overview/eth-overview.test.js
+++ b/ui/components/app/wallet-overview/eth-overview.test.js
@@ -38,6 +38,8 @@ jest.mock('../../../ducks/locale/locale', () => ({
 
 jest.mock('../../../store/actions', () => ({
   startNewDraftTransaction: jest.fn(),
+  tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+  tokenBalancesStopPollingByPollingToken: jest.fn(),
 }));
 
 const mockGetIntlLocale = getIntlLocale;
diff --git a/ui/components/multichain/account-overview/account-overview-btc.test.tsx b/ui/components/multichain/account-overview/account-overview-btc.test.tsx
index 1def72354c82..fa32883ce773 100644
--- a/ui/components/multichain/account-overview/account-overview-btc.test.tsx
+++ b/ui/components/multichain/account-overview/account-overview-btc.test.tsx
@@ -8,6 +8,11 @@ import {
   AccountOverviewBtcProps,
 } from './account-overview-btc';
 
+jest.mock('../../../store/actions', () => ({
+  tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+  tokenBalancesStopPollingByPollingToken: jest.fn(),
+}));
+
 const defaultProps: AccountOverviewBtcProps = {
   defaultHomeActiveTabName: null,
   onTabClick: jest.fn(),
diff --git a/ui/components/multichain/account-overview/account-overview-eth.test.tsx b/ui/components/multichain/account-overview/account-overview-eth.test.tsx
index ba2049ffd205..f9b53665e753 100644
--- a/ui/components/multichain/account-overview/account-overview-eth.test.tsx
+++ b/ui/components/multichain/account-overview/account-overview-eth.test.tsx
@@ -8,6 +8,11 @@ import {
   AccountOverviewEthProps,
 } from './account-overview-eth';
 
+jest.mock('../../../store/actions', () => ({
+  tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+  tokenBalancesStopPollingByPollingToken: jest.fn(),
+}));
+
 const render = (props: AccountOverviewEthProps) => {
   const store = configureStore({
     metamask: mockState.metamask,
diff --git a/ui/ducks/metamask/metamask.js b/ui/ducks/metamask/metamask.js
index 63ff92a11ccc..7ddc156c92ae 100644
--- a/ui/ducks/metamask/metamask.js
+++ b/ui/ducks/metamask/metamask.js
@@ -457,6 +457,16 @@ export const getGasEstimateTypeByChainId = createSelector(
   },
 );
 
+/**
+ * Returns the balances of imported and detected tokens across all accounts and chains.
+ *
+ * @param {*} state
+ * @returns { import('@metamask/assets-controllers').TokenBalancesControllerState['tokenBalances']}
+ */
+export function getTokenBalances(state) {
+  return state.metamask.tokenBalances;
+}
+
 export const getGasFeeEstimatesByChainId = createSelector(
   getGasFeeControllerEstimatesByChainId,
   getTransactionGasFeeEstimatesByChainId,
diff --git a/ui/hooks/useAccountTotalFiatBalance.js b/ui/hooks/useAccountTotalFiatBalance.js
index 7b4a4675225a..aa1f906473ef 100644
--- a/ui/hooks/useAccountTotalFiatBalance.js
+++ b/ui/hooks/useAccountTotalFiatBalance.js
@@ -22,7 +22,7 @@ import {
 import { formatCurrency } from '../helpers/utils/confirm-tx.util';
 import { getTokenFiatAmount } from '../helpers/utils/token-util';
 import { roundToDecimalPlacesRemovingExtraZeroes } from '../helpers/utils/util';
-import { useTokenTracker } from './useTokenTracker';
+import { useTokenTracker } from './useTokenBalances';
 
 export const useAccountTotalFiatBalance = (
   account,
@@ -54,10 +54,11 @@ export const useAccountTotalFiatBalance = (
   const primaryTokenImage = useSelector(getNativeCurrencyImage);
   const nativeCurrency = useSelector(getNativeCurrency);
 
-  const { loading, tokensWithBalances } = useTokenTracker({
+  const loading = false;
+  const { tokensWithBalances } = useTokenTracker({
+    chainId: currentChainId,
     tokens,
     address: account?.address,
-    includeFailedTokens: true,
     hideZeroBalanceTokens: shouldHideZeroBalanceTokens,
   });
 
diff --git a/ui/hooks/useAccountTotalFiatBalance.test.js b/ui/hooks/useAccountTotalFiatBalance.test.js
index 9fb1227367e1..6ac93cd08e33 100644
--- a/ui/hooks/useAccountTotalFiatBalance.test.js
+++ b/ui/hooks/useAccountTotalFiatBalance.test.js
@@ -14,35 +14,6 @@ const mockAccount = createMockInternalAccount({
   address: '0x0836f5ed6b62baf60706fe3adc0ff0fd1df833da',
 });
 
-jest.mock('./useTokenTracker', () => {
-  return {
-    useTokenTracker: () => ({
-      loading: false,
-      tokensWithBalances: [
-        {
-          address: '0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48',
-          balance: '48573',
-          balanceError: null,
-          decimals: 6,
-          image: undefined,
-          isERC721: undefined,
-          string: '0.04857',
-          symbol: 'USDC',
-        },
-        {
-          address: '0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e',
-          symbol: 'YFI',
-          balance: '1409247882142934',
-          decimals: 18,
-          string: '0.001409247882142934',
-          balanceError: null,
-        },
-      ],
-      error: null,
-    }),
-  };
-});
-
 const renderUseAccountTotalFiatBalance = (address) => {
   const state = {
     ...mockState,
@@ -78,7 +49,7 @@ const renderUseAccountTotalFiatBalance = (address) => {
       },
       ...mockNetworkState({ chainId: CHAIN_IDS.MAINNET }),
 
-      detectedTokens: {
+      allTokens: {
         '0x1': {
           '0x0836f5ed6b62baf60706fe3adc0ff0fd1df833da': [
             {
@@ -96,6 +67,14 @@ const renderUseAccountTotalFiatBalance = (address) => {
           ],
         },
       },
+      tokenBalances: {
+        [mockAccount.address]: {
+          [CHAIN_IDS.MAINNET]: {
+            '0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48': '0xBDBD',
+            '0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e': '0x501B4176A64D6',
+          },
+        },
+      },
     },
   };
 
@@ -122,8 +101,6 @@ describe('useAccountTotalFiatBalance', () => {
           address: '0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48',
           symbol: 'USDC',
           balance: '48573',
-          image: undefined,
-          isERC721: undefined,
           decimals: 6,
           string: 0.04857,
           balanceError: null,
diff --git a/ui/hooks/useMultichainAccountTotalFiatBalance.test.tsx b/ui/hooks/useMultichainAccountTotalFiatBalance.test.tsx
index ffd664612a02..e46eff925e50 100644
--- a/ui/hooks/useMultichainAccountTotalFiatBalance.test.tsx
+++ b/ui/hooks/useMultichainAccountTotalFiatBalance.test.tsx
@@ -15,31 +15,21 @@ const mockTokenBalances = [
     balance: '48573',
     balanceError: null,
     decimals: 6,
-    image: undefined,
-    isERC721: undefined,
-    string: '0.04857',
+    string: 0.04857,
     symbol: 'USDC',
+    tokenFiatAmount: '0.05',
   },
   {
     address: '0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e',
     symbol: 'YFI',
     balance: '1409247882142934',
     decimals: 18,
-    string: '0.001409247882142934',
+    string: 0.00141,
     balanceError: null,
+    tokenFiatAmount: '7.52',
   },
 ];
 
-jest.mock('./useTokenTracker', () => {
-  return {
-    useTokenTracker: () => ({
-      loading: false,
-      tokensWithBalances: mockTokenBalances,
-      error: null,
-    }),
-  };
-});
-
 const mockAccount = createMockInternalAccount({
   name: 'Account 1',
   address: '0x0836f5ed6b62baf60706fe3adc0ff0fd1df833da',
@@ -104,7 +94,7 @@ const renderUseMultichainAccountTotalFiatBalance = (
       },
       ...mockNetworkState({ chainId: CHAIN_IDS.MAINNET }),
 
-      detectedTokens: {
+      allTokens: {
         '0x1': {
           '0x0836f5ed6b62baf60706fe3adc0ff0fd1df833da': [
             {
@@ -122,6 +112,14 @@ const renderUseMultichainAccountTotalFiatBalance = (
           ],
         },
       },
+      tokenBalances: {
+        [mockAccount.address]: {
+          [CHAIN_IDS.MAINNET]: {
+            '0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48': '0xBDBD',
+            '0x0bc529c00C6401aEF6D220BE8C6Ea1667F6Ad93e': '0x501B4176A64D6',
+          },
+        },
+      },
     },
   };
 
diff --git a/ui/hooks/useMultichainAccountTotalFiatBalance.ts b/ui/hooks/useMultichainAccountTotalFiatBalance.ts
index 9e807be41ea5..335b8399c6d5 100644
--- a/ui/hooks/useMultichainAccountTotalFiatBalance.ts
+++ b/ui/hooks/useMultichainAccountTotalFiatBalance.ts
@@ -31,9 +31,9 @@ export const useMultichainAccountTotalFiatBalance = (
   tokensWithBalances: {
     address: string;
     symbol: string;
-    decimals: string;
-    isERC721: boolean;
-    image: string;
+    decimals: number;
+    isERC721?: boolean;
+    image?: string;
   }[];
   totalWeiBalance?: string;
   totalBalance?: string;
diff --git a/ui/hooks/useTokenBalances.ts b/ui/hooks/useTokenBalances.ts
new file mode 100644
index 000000000000..9ff92d488814
--- /dev/null
+++ b/ui/hooks/useTokenBalances.ts
@@ -0,0 +1,110 @@
+import { useSelector } from 'react-redux';
+import BN from 'bn.js';
+import { Token } from '@metamask/assets-controllers';
+import { Hex } from '@metamask/utils';
+import { getNetworkConfigurationsByChainId } from '../selectors';
+import {
+  tokenBalancesStartPolling,
+  tokenBalancesStopPollingByPollingToken,
+} from '../store/actions';
+import { getTokenBalances } from '../ducks/metamask/metamask';
+import { hexToDecimal } from '../../shared/modules/conversion.utils';
+import useMultiPolling from './useMultiPolling';
+
+export const useTokenBalances = ({ chainIds }: { chainIds?: Hex[] } = {}) => {
+  const tokenBalances = useSelector(getTokenBalances);
+  const networkConfigurations = useSelector(getNetworkConfigurationsByChainId);
+
+  useMultiPolling({
+    startPolling: tokenBalancesStartPolling,
+    stopPollingByPollingToken: tokenBalancesStopPollingByPollingToken,
+    input: chainIds ?? Object.keys(networkConfigurations),
+  });
+
+  return { tokenBalances };
+};
+
+// This hook is designed for backwards compatibility with `ui/hooks/useTokenTracker.js`
+// and the github.com/MetaMask/eth-token-tracker library. It replaces RPC calls with
+// reading state from `TokenBalancesController`. It should not be used in new code.
+// Instead, prefer to use `useTokenBalances` directly, or compose higher level hooks from it.
+export const useTokenTracker = ({
+  chainId,
+  tokens,
+  address,
+  hideZeroBalanceTokens,
+}: {
+  chainId: Hex;
+  tokens: Token[];
+  address: Hex;
+  hideZeroBalanceTokens?: boolean;
+}) => {
+  const { tokenBalances } = useTokenBalances({ chainIds: [chainId] });
+
+  const tokensWithBalances = tokens.reduce((acc, token) => {
+    const hexBalance =
+      tokenBalances[address]?.[chainId]?.[token.address as Hex] ?? '0x0';
+    if (hexBalance !== '0x0' || !hideZeroBalanceTokens) {
+      const decimalBalance = hexToDecimal(hexBalance);
+      acc.push({
+        address: token.address,
+        symbol: token.symbol,
+        decimals: token.decimals,
+        balance: decimalBalance,
+        balanceError: null,
+        string: stringifyBalance(
+          new BN(decimalBalance),
+          new BN(token.decimals),
+        ),
+      });
+    }
+    return acc;
+  }, [] as (Token & { balance: string; string: string; balanceError: unknown })[]);
+
+  return {
+    tokensWithBalances,
+  };
+};
+
+// From https://github.com/MetaMask/eth-token-tracker/blob/main/lib/util.js
+// Ensures backwards compatibility with display formatting.
+function stringifyBalance(balance: BN, bnDecimals: BN, balanceDecimals = 5) {
+  if (balance.eq(new BN(0))) {
+    return '0';
+  }
+
+  const decimals = parseInt(bnDecimals.toString(), 10);
+  if (decimals === 0) {
+    return balance.toString();
+  }
+
+  let bal = balance.toString();
+  let len = bal.length;
+  let decimalIndex = len - decimals;
+  let prefix = '';
+
+  if (decimalIndex <= 0) {
+    while (prefix.length <= decimalIndex * -1) {
+      prefix += '0';
+      len += 1;
+    }
+    bal = prefix + bal;
+    decimalIndex = 1;
+  }
+
+  const whole = bal.substr(0, len - decimals);
+
+  if (balanceDecimals === 0) {
+    return whole;
+  }
+
+  const fractional = bal.substr(decimalIndex, balanceDecimals);
+  if (/0+$/u.test(fractional)) {
+    let withOnlySigZeroes = bal.substr(decimalIndex).replace(/0+$/u, '');
+    if (withOnlySigZeroes.length > 0) {
+      withOnlySigZeroes = `.${withOnlySigZeroes}`;
+    }
+    return `${whole}${withOnlySigZeroes}`;
+  }
+  return `${whole}.${fractional}`;
+}
diff --git a/ui/pages/asset/components/asset-page.test.tsx b/ui/pages/asset/components/asset-page.test.tsx
index 6bf1d12feb9e..5df516184004 100644
--- a/ui/pages/asset/components/asset-page.test.tsx
+++ b/ui/pages/asset/components/asset-page.test.tsx
@@ -13,6 +13,12 @@ import { setBackgroundConnection } from '../../../store/background-connection';
 import { mockNetworkState } from '../../../../test/stub/networks';
 import AssetPage from './asset-page';
 
+jest.mock('../../../store/actions', () => ({
+  ...jest.requireActual('../../../store/actions'),
+  tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+  tokenBalancesStopPollingByPollingToken: jest.fn(),
+}));
+
 // Mock the price chart
 jest.mock('react-chartjs-2', () => ({ Line: () => null }));
 
diff --git a/ui/pages/routes/routes.component.test.js b/ui/pages/routes/routes.component.test.js
index 6151fedc687b..8a516fd76d6a 100644
--- a/ui/pages/routes/routes.component.test.js
+++ b/ui/pages/routes/routes.component.test.js
@@ -43,6 +43,8 @@ jest.mock('../../store/actions', () => ({
     .mockResolvedValue({ chainId: '0x5' }),
   showNetworkDropdown: () => mockShowNetworkDropdown,
   hideNetworkDropdown: () => mockHideNetworkDropdown,
+  tokenBalancesStartPolling: jest.fn().mockResolvedValue('pollingToken'),
+  tokenBalancesStopPollingByPollingToken: jest.fn(),
 }));
 
 jest.mock('../../ducks/bridge/actions', () => ({
diff --git a/ui/store/actions.ts b/ui/store/actions.ts
index 32434d3a1d59..390db05f04df 100644
--- a/ui/store/actions.ts
+++ b/ui/store/actions.ts
@@ -4625,6 +4625,26 @@ export async function tokenListStopPollingByPollingToken(pollingToken: string) {
   await removePollingTokenFromAppState(pollingToken);
 }
 
+export async function tokenBalancesStartPolling(
+  chainId: string,
+): Promise<string> {
+  const pollingToken = await submitRequestToBackground(
+    'tokenBalancesStartPolling',
+    [{ chainId }],
+  );
+  await addPollingTokenToAppState(pollingToken);
+  return pollingToken;
+}
+
+export async function tokenBalancesStopPollingByPollingToken(
+  pollingToken: string,
+) {
+  await submitRequestToBackground('tokenBalancesStopPollingByPollingToken', [
+    pollingToken,
+  ]);
+  await removePollingTokenFromAppState(pollingToken);
+}
+
 /**
  * Informs the TokenRatesController that the UI requires
  * token rate polling for the given chain id.
diff --git a/yarn.lock b/yarn.lock
index 8d622a3d2d25..4602bb34f62f 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4934,11 +4934,12 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@metamask/assets-controllers@npm:43.1.1":
-  version: 43.1.1
-  resolution: "@metamask/assets-controllers@npm:43.1.1"
+"@metamask/assets-controllers@npm:44.0.0":
+  version: 44.0.0
+  resolution: "@metamask/assets-controllers@npm:44.0.0"
   dependencies:
     "@ethereumjs/util": "npm:^8.1.0"
+    "@ethersproject/abi": "npm:^5.7.0"
     "@ethersproject/address": "npm:^5.7.0"
     "@ethersproject/bignumber": "npm:^5.7.0"
     "@ethersproject/contracts": "npm:^5.7.0"
@@ -4968,15 +4969,16 @@ __metadata:
     "@metamask/keyring-controller": ^18.0.0
     "@metamask/network-controller": ^22.0.0
     "@metamask/preferences-controller": ^14.0.0
-  checksum: 10/e8f37928085a243f2f3a9d3b09b486f31737814d6257ee49bc2d841d2f467733b8c533c056e9ca24acdcc80414503b34b00e10abb1cdfeb8483e6fe30bc4a62f
+  checksum: 10/6f3d8712a90aa322aabd38d43663d299ad7ee98a6d838d72bfc3b426ea0e4e925bb78c1aaaa3c75d43e95d46993c47583a4a03f4c58aee155525424fa86207ae
   languageName: node
   linkType: hard
 
-"@metamask/assets-controllers@patch:@metamask/assets-controllers@npm%3A43.1.1#~/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch::version=43.1.1&hash=5a94c2":
-  version: 43.1.1
-  resolution: "@metamask/assets-controllers@patch:@metamask/assets-controllers@npm%3A43.1.1#~/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch::version=43.1.1&hash=5a94c2"
+"@metamask/assets-controllers@patch:@metamask/assets-controllers@npm%3A44.0.0#~/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch::version=44.0.0&hash=5a94c2":
+  version: 44.0.0
+  resolution: "@metamask/assets-controllers@patch:@metamask/assets-controllers@npm%3A44.0.0#~/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch::version=44.0.0&hash=5a94c2"
   dependencies:
     "@ethereumjs/util": "npm:^8.1.0"
+    "@ethersproject/abi": "npm:^5.7.0"
     "@ethersproject/address": "npm:^5.7.0"
     "@ethersproject/bignumber": "npm:^5.7.0"
     "@ethersproject/contracts": "npm:^5.7.0"
@@ -5006,15 +5008,16 @@ __metadata:
     "@metamask/keyring-controller": ^18.0.0
     "@metamask/network-controller": ^22.0.0
     "@metamask/preferences-controller": ^14.0.0
-  checksum: 10/1a3672cb721c6716d33c1c6c5e7ffc2859689407e70af7503204220afe41f6c0d20f883ad7d51089af7376e4005de7479525b3faa49113c942cf3ab1bceba154
+  checksum: 10/0d6c386a1f1e68ab339340fd8fa600827f55f234bc54b2224069a1819ab037641daa9696a0d62f187c0649317393efaeeb119a7852af51da3bb340e0e98cf9f6
   languageName: node
   linkType: hard
 
-"@metamask/assets-controllers@patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A43.1.1%23~/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch%3A%3Aversion=43.1.1&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch":
-  version: 43.1.1
-  resolution: "@metamask/assets-controllers@patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A43.1.1%23~/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch%3A%3Aversion=43.1.1&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch::version=43.1.1&hash=c4e407"
+"@metamask/assets-controllers@patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A44.0.0%23~/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch%3A%3Aversion=44.0.0&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch":
+  version: 44.0.0
+  resolution: "@metamask/assets-controllers@patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A44.0.0%23~/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch%3A%3Aversion=44.0.0&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch::version=44.0.0&hash=c4e407"
   dependencies:
     "@ethereumjs/util": "npm:^8.1.0"
+    "@ethersproject/abi": "npm:^5.7.0"
     "@ethersproject/address": "npm:^5.7.0"
     "@ethersproject/bignumber": "npm:^5.7.0"
     "@ethersproject/contracts": "npm:^5.7.0"
@@ -5044,7 +5047,7 @@ __metadata:
     "@metamask/keyring-controller": ^18.0.0
     "@metamask/network-controller": ^22.0.0
     "@metamask/preferences-controller": ^14.0.0
-  checksum: 10/189f45b9afefef9dc54f29920eb64fcebbc1dd13d792627ab2649c973a94ca310c848411fe4b294419c881d1956ff50bd6107f7411faa2a953da005662269e40
+  checksum: 10/11e8920bdf8ffce4a534c6aadfe768176c4e461a00bc06e6ece52f085755ff252194881d9edd308097186a05057075fd9812b6e4b1fd97dd731814ad205013da
   languageName: node
   linkType: hard
 
@@ -26737,7 +26740,7 @@ __metadata:
     "@metamask/announcement-controller": "npm:^7.0.0"
     "@metamask/api-specs": "npm:^0.9.3"
     "@metamask/approval-controller": "npm:^7.0.0"
-    "@metamask/assets-controllers": "patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A43.1.1%23~/.yarn/patches/@metamask-assets-controllers-npm-43.1.1-c223d56176.patch%3A%3Aversion=43.1.1&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch"
+    "@metamask/assets-controllers": "patch:@metamask/assets-controllers@patch%3A@metamask/assets-controllers@npm%253A44.0.0%23~/.yarn/patches/@metamask-assets-controllers-npm-44.0.0-c223d56176.patch%3A%3Aversion=44.0.0&hash=5a94c2#~/.yarn/patches/@metamask-assets-controllers-patch-9e00573eb4.patch"
     "@metamask/auto-changelog": "npm:^2.1.0"
     "@metamask/base-controller": "npm:^7.0.0"
     "@metamask/bitcoin-wallet-snap": "npm:^0.8.2"