diff --git a/components/brave_wallet_ui/common/async/balanceUpdater.ts b/components/brave_wallet_ui/common/async/balanceUpdater.ts
new file mode 100644
index 000000000000..b8e558e1bca4
--- /dev/null
+++ b/components/brave_wallet_ui/common/async/balanceUpdater.ts
@@ -0,0 +1,22 @@
+// Copyright (c) 2021 The Brave Authors. All rights reserved.
+// This Source Code Form is subject to the terms of the Mozilla Public
+// License, v. 2.0. If a copy of the MPL was not distributed with this file,
+// you can obtain one at http://mozilla.org/MPL/2.0/.
+
+export default class BalanceUpdater {
+  private intervalId: ReturnType<typeof setInterval> | undefined
+
+  beginUpdatingBalances (timeMs: number, onUpdateBalances: () => unknown) {
+    this.intervalId = setInterval(
+      () => {
+        onUpdateBalances()
+      }, timeMs)
+  }
+
+  stopUpdatingBalances () {
+    if (this.intervalId) {
+      clearTimeout(this.intervalId)
+      this.intervalId = undefined
+    }
+  }
+}
diff --git a/components/brave_wallet_ui/common/async/handlers.ts b/components/brave_wallet_ui/common/async/handlers.ts
index a803e7501c85..0203217f40b9 100644
--- a/components/brave_wallet_ui/common/async/handlers.ts
+++ b/components/brave_wallet_ui/common/async/handlers.ts
@@ -45,14 +45,17 @@ import {
   refreshSitePermissions,
   refreshTransactionHistory,
   refreshBalances,
+  refreshVisibleTokenInfo,
   refreshPrices
 } from './lib'
 import { Store } from './types'
 import InteractionNotifier from './interactionNotifier'
+import BalanceUpdater from './balanceUpdater'
 
 const handler = new AsyncActionHandler()
 
 const interactionNotifier = new InteractionNotifier()
+const balanceUpdater = new BalanceUpdater()
 
 function getWalletState (store: Store): WalletState {
   return store.getState().wallet
@@ -60,7 +63,8 @@ function getWalletState (store: Store): WalletState {
 
 async function refreshBalancesPricesAndHistory (store: Store) {
   const state = getWalletState(store)
-  await store.dispatch(refreshBalances(state.selectedNetwork))
+  await store.dispatch(refreshVisibleTokenInfo(state.selectedNetwork))
+  await store.dispatch(refreshBalances())
   await store.dispatch(refreshPrices())
   await store.dispatch(refreshTokenPriceHistory(state.selectedPortfolioTimeline))
 }
@@ -101,7 +105,8 @@ async function updateAccountInfo (store: Store) {
 
 handler.on(WalletActions.refreshBalancesAndPrices.getType(), async (store: Store) => {
   const state = getWalletState(store)
-  await store.dispatch(refreshBalances(state.selectedNetwork))
+  await store.dispatch(refreshVisibleTokenInfo(state.selectedNetwork))
+  await store.dispatch(refreshBalances())
   await store.dispatch(refreshPrices())
 })
 
@@ -131,6 +136,7 @@ handler.on(WalletActions.keyringReset.getType(), async (store) => {
 
 handler.on(WalletActions.locked.getType(), async (store) => {
   interactionNotifier.stopWatchingForInteraction()
+  balanceUpdater.stopUpdatingBalances()
   await refreshWalletInfo(store)
 })
 
@@ -219,7 +225,11 @@ handler.on(WalletActions.initialized.getType(), async (store: Store, payload: Wa
   // Fetch Balances and Prices
   if (!state.isWalletLocked && state.isWalletCreated) {
     const currentNetwork = await store.dispatch(refreshNetworkInfo())
-    await store.dispatch(refreshBalances(currentNetwork))
+    await store.dispatch(refreshVisibleTokenInfo(currentNetwork))
+    await store.dispatch(refreshBalances())
+    balanceUpdater.beginUpdatingBalances(15000, async () => {
+      await store.dispatch(refreshBalances())
+    })
     await store.dispatch(refreshPrices())
     await store.dispatch(refreshTokenPriceHistory(state.selectedPortfolioTimeline))
   }
diff --git a/components/brave_wallet_ui/common/async/lib.ts b/components/brave_wallet_ui/common/async/lib.ts
index 340418ca9b7b..13a94a4f7f05 100644
--- a/components/brave_wallet_ui/common/async/lib.ts
+++ b/components/brave_wallet_ui/common/async/lib.ts
@@ -161,12 +161,9 @@ export async function getIsSwapSupported (network: BraveWallet.EthereumChain): P
   return (await swapService.isSwapSupported(network.chainId)).result
 }
 
-export function refreshBalances (currentNetwork: BraveWallet.EthereumChain) {
-  return async (dispatch: Dispatch, getState: () => State) => {
-    const { braveWalletService, jsonRpcService } = getAPIProxy()
-    const { wallet: { accounts } } = getState()
-
-    const visibleTokensInfo = await braveWalletService.getUserAssets(currentNetwork.chainId)
+export function refreshVisibleTokenInfo (currentNetwork: BraveWallet.EthereumChain) {
+  return async (dispatch: Dispatch) => {
+    const { braveWalletService } = getAPIProxy()
 
     // Selected Network's Native Asset
     const nativeAsset: BraveWallet.BlockchainToken = {
@@ -182,6 +179,17 @@ export function refreshBalances (currentNetwork: BraveWallet.EthereumChain) {
       coingeckoId: ''
     }
 
+    const visibleTokensInfo = await braveWalletService.getUserAssets(currentNetwork.chainId)
+    const visibleAssets: BraveWallet.BlockchainToken[] = visibleTokensInfo.tokens.length === 0 ? [nativeAsset] : visibleTokensInfo.tokens
+    await dispatch(WalletActions.setVisibleTokensInfo(visibleAssets))
+  }
+}
+
+export function refreshBalances () {
+  return async (dispatch: Dispatch, getState: () => State) => {
+    const { jsonRpcService } = getAPIProxy()
+    const { wallet: { accounts, userVisibleTokensInfo } } = getState()
+
     const getBalanceReturnInfos = await Promise.all(accounts.map(async (account) => {
       const balanceInfo = await jsonRpcService.getBalance(account.address, account.coin)
       return balanceInfo
@@ -190,9 +198,7 @@ export function refreshBalances (currentNetwork: BraveWallet.EthereumChain) {
       balances: getBalanceReturnInfos
     }))
 
-    const visibleAssets: BraveWallet.BlockchainToken[] = visibleTokensInfo.tokens.length === 0 ? [nativeAsset] : visibleTokensInfo.tokens
-    await dispatch(WalletActions.setVisibleTokensInfo(visibleAssets))
-    const visibleTokens = visibleAssets.filter(asset => asset.contractAddress !== '')
+    const visibleTokens = userVisibleTokensInfo.filter(asset => asset.contractAddress !== '')
 
     const getBlockchainTokenBalanceReturnInfos = await Promise.all(accounts.map(async (account) => {
       return Promise.all(visibleTokens.map(async (token) => {
@@ -284,12 +290,12 @@ export function refreshTokenPriceHistory (selectedPortfolioTimeline: BraveWallet
           const balance = token.contractAddress
             ? account.tokenBalanceRegistry[token.contractAddress.toLowerCase()]
             : account.balance
-        return {
-          token,
-          balance: balance || '0',
-          history: priceHistory.find((t) => token.contractAddress === t.contractAddress)?.history ?? { success: true, values: [] }
-        }
-      })
+          return {
+            token,
+            balance: balance || '0',
+            history: priceHistory.find((t) => token.contractAddress === t.contractAddress)?.history ?? { success: true, values: [] }
+          }
+        })
     })
 
     dispatch(WalletActions.portfolioPriceHistoryUpdated(priceHistoryWithBalances))
diff --git a/components/brave_wallet_ui/components/desktop/views/crypto/index.tsx b/components/brave_wallet_ui/components/desktop/views/crypto/index.tsx
index 2817acf7372a..27d11b116de0 100644
--- a/components/brave_wallet_ui/components/desktop/views/crypto/index.tsx
+++ b/components/brave_wallet_ui/components/desktop/views/crypto/index.tsx
@@ -189,7 +189,7 @@ const CryptoView = (props: Props) => {
         setHideNav(false)
       }
     }
-  }, [id, userVisibleTokensInfo, category, accounts])
+  }, [id, userVisibleTokensInfo, category])
 
   const toggleNav = () => {
     setHideNav(!hideNav)