diff --git a/packages/assets-controllers/CHANGELOG.md b/packages/assets-controllers/CHANGELOG.md
index 16448c727cb..fe4c0ea9ffa 100644
--- a/packages/assets-controllers/CHANGELOG.md
+++ b/packages/assets-controllers/CHANGELOG.md
@@ -33,6 +33,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   - Reduce NFT detection API calls by 83% (from 6 calls to 1 call per 100 tokens) by eliminating collection endpoint requests
   - Remove unused collection metadata fields: `contractDeployedAt`, `creator`, and `topBid`
 
+### Fixed
+
+- Fix address format compatibility between `TokenBalancesController` and `AccountTrackerController` in `AccountsApiBalanceFetcher` ([#6812](https://github.com/MetaMask/core/pull/6812))
+
 ## [79.0.1]
 
 ### Changed
diff --git a/packages/assets-controllers/src/TokenBalancesController.ts b/packages/assets-controllers/src/TokenBalancesController.ts
index c91f88b4b3e..e8d58d6bddc 100644
--- a/packages/assets-controllers/src/TokenBalancesController.ts
+++ b/packages/assets-controllers/src/TokenBalancesController.ts
@@ -734,12 +734,14 @@ export class TokenBalancesController extends StaticIntervalPollingController<{
           const newBalance = toHex(value);
           const tokenAddress = checksum(token);
           const currentBalance =
-            d.tokenBalances[account]?.[chainId]?.[tokenAddress];
+            d.tokenBalances[account as ChecksumAddress]?.[chainId]?.[
+              tokenAddress
+            ];
 
           // Only update if the balance has actually changed
           if (currentBalance !== newBalance) {
-            ((d.tokenBalances[account] ??= {})[chainId] ??= {})[tokenAddress] =
-              newBalance;
+            ((d.tokenBalances[account as ChecksumAddress] ??= {})[chainId] ??=
+              {})[tokenAddress] = newBalance;
           }
         }
       });
diff --git a/packages/assets-controllers/src/multi-chain-accounts-service/api-balance-fetcher.ts b/packages/assets-controllers/src/multi-chain-accounts-service/api-balance-fetcher.ts
index a2248fac048..d03005f9ce8 100644
--- a/packages/assets-controllers/src/multi-chain-accounts-service/api-balance-fetcher.ts
+++ b/packages/assets-controllers/src/multi-chain-accounts-service/api-balance-fetcher.ts
@@ -28,7 +28,7 @@ export type ChecksumAddress = Hex;
 export type ProcessedBalance = {
   success: boolean;
   value?: BN;
-  account: ChecksumAddress;
+  account: ChecksumAddress | string;
   token: ChecksumAddress;
   chainId: ChainIdHex;
 };
@@ -302,6 +302,11 @@ export class AccountsApiBalanceFetcher implements BalanceFetcher {
         }
         const account = checksum(addressPart);
         const token = checksum(b.address);
+        // Use original address for zero address tokens, checksummed for others
+        // TODO: this is a hack to get the correct account address type but needs to be fixed
+        // by mgrating tokenBalancesController to checksum addresses
+        const finalAccount: ChecksumAddress | string =
+          token === ZERO_ADDRESS ? account : addressPart;
         const chainId = toHex(b.chainId) as ChainIdHex;
 
         let value: BN | undefined;
@@ -326,14 +331,14 @@ export class AccountsApiBalanceFetcher implements BalanceFetcher {
 
         // Track native balances for later
         if (token === ZERO_ADDRESS && value !== undefined) {
-          nativeBalancesFromAPI.set(`${account}-${chainId}`, value);
+          nativeBalancesFromAPI.set(`${finalAccount}-${chainId}`, value);
         }
 
         return [
           {
             success: value !== undefined,
             value,
-            account,
+            account: finalAccount,
             token,
             chainId,
           },