diff --git a/app/components/UI/Ramp/hooks/useBalance.ts b/app/components/UI/Ramp/hooks/useBalance.ts
index f0e49c63e3a..de0ed400742 100644
--- a/app/components/UI/Ramp/hooks/useBalance.ts
+++ b/app/components/UI/Ramp/hooks/useBalance.ts
@@ -1,5 +1,5 @@
-import { hexToBN } from '@metamask/controller-utils';
 import { useSelector } from 'react-redux';
+import { hexToBN } from '@metamask/controller-utils';
 import { NATIVE_ADDRESS } from '../../../../constants/on-ramp';
 import { selectAccountsByChainId } from '../../../../selectors/accountTrackerController';
 import {
@@ -19,13 +19,18 @@ import {
   weiToFiat,
 } from '../../../../util/number';
 
+const defaultReturn = {
+  balance: null,
+  balanceFiat: null,
+  balanceBN: null,
+};
+
 interface Asset {
   address: string;
   decimals: number;
 }
 
 export default function useBalance(asset?: Asset) {
-  const assetAddress = safeToChecksumAddress(asset?.address);
   const accountsByChainId = useSelector(selectAccountsByChainId);
   const chainId = useSelector(selectChainId);
   const selectedAddress = useSelector(
@@ -36,8 +41,14 @@ export default function useBalance(asset?: Asset) {
   const tokenExchangeRates = useSelector(selectContractExchangeRates);
   const balances = useSelector(selectContractBalances);
 
-  if (!asset || !assetAddress) {
-    return { balance: null, balanceFiat: null, balanceBN: null };
+  if (!asset) {
+    return defaultReturn;
+  }
+
+  const assetAddress = safeToChecksumAddress(asset.address);
+
+  if (!assetAddress) {
+    return defaultReturn;
   }
 
   let balance, balanceFiat, balanceBN;
@@ -66,7 +77,9 @@ export default function useBalance(asset?: Asset) {
       currentCurrency,
     );
     balanceBN =
-      assetAddress && assetAddress in balances ? balances[assetAddress] : null;
+      assetAddress && assetAddress in balances
+        ? hexToBN(balances[assetAddress])
+        : null;
   }
 
   return { balance, balanceFiat, balanceBN };
diff --git a/app/util/address/index.ts b/app/util/address/index.ts
index 010dcebbfe9..3f4d39e509f 100644
--- a/app/util/address/index.ts
+++ b/app/util/address/index.ts
@@ -317,7 +317,7 @@ export function resemblesAddress(address: string) {
 
 export function safeToChecksumAddress(address: string) {
   if (!address) return undefined;
-  return toChecksumAddress(address);
+  return toChecksumAddress(address) as Hex;
 }
 
 /**