Tokenized RWA On The XRP Ledger Surpasses $1 Billion For The First Time

The XRP Ledger (XRPL) has reached a major milestone in the global push toward real-world asset (RWA) tokenization.

Despite recent headwinds across the broader crypto market, the total value of tokenized real-world assets on the XRPL has officially crossed the $1 billion mark for the first time in its history.

The milestone underscores how RWA tokenization continues to expand even as price momentum slows across major digital assets, including XRP. While speculative markets cool, tokenization activity is accelerating, and the XRP Ledger is emerging as one of its biggest beneficiaries.

According to industry-standard RWA data aggregator RWA.xyz, the total value of tokenized assets on XRPL now stands at $1.001 billion, up from $885 million at the start of the year. That represents nearly $115 million in new tokenized value added in just a few months, with Ripple’s RLUSD stablecoin accounting for the vast majority of that growth.

RLUSD Drives The Majority Of XRPL’s Tokenization Growth

The surge in tokenized value on the XRP Ledger is largely driven by the rapid expansion of RLUSD, Ripple’s U.S. dollar-backed stablecoin. Of the $115 million increase recorded since the start of the year, RLUSD alone contributed $104 million, representing roughly 90% of all new RWA growth on the network.

As a result, RLUSD’s market capitalization on XRPL has climbed to $338 million, making it the single largest tokenized asset on the network. At current levels, RLUSD accounts for 33.7% of the total RWA value on the XRP Ledger and a dominant 85% of all stablecoin value on the chain.

This concentration highlights a broader trend in tokenization: stablecoins remain the gateway asset class for real-world finance moving on-chain. On XRPL, RLUSD is increasingly serving as the primary liquidity layer connecting traditional financial value to blockchain infrastructure.

Breaking Down Distributed And Represented Assets On XRPL

The $1.001 billion figure includes both distributed and represented assets, two distinct categories that define how RWAs operate on the XRP Ledger.

Distributed assets account for $600.4 million, representing roughly 60% of total RWA value on the network. These assets can be freely held, transferred, and used across the XRPL ecosystem for trading, payments, and decentralized finance applications.

Within the distributed category, stablecoins dominate with $395 million, followed by U.S. Treasury debt at $150.2 million and private equity totaling $55.2 million. The dominance of stablecoins reflects XRPL’s growing role as a settlement layer rather than a speculative playground.

Represented assets, meanwhile, make up the remaining $401.4 million, or 40% of total RWA value. These assets remain on the issuing platform and cannot be transferred freely on-chain. Instead, they function as internal digital representations of ownership rather than tradable instruments.

Private Credit And Commodities Lead Represented Assets

Within the represented asset category, private credit dominates, accounting for $283.8 million of the total $401.4 million. A significant portion of this value comes from Vert Capital, whose tokens representing Brazilian private equity alone total $269.8 million.

Commodities make up another $110.7 million, while tokenized real estate represents a smaller but notable $6.9 million. Although represented assets lack on-chain liquidity, their growing presence signals that institutions are increasingly comfortable using blockchain infrastructure for internal accounting, ownership tracking, and settlement records.

This hybrid structure, where both transferable and non-transferable assets coexist, positions the XRP Ledger as a flexible platform capable of supporting multiple tokenization models simultaneously.

XRPL’s Explosive Year-Over-Year Growth

The scale of XRPL’s RWA expansion becomes even more striking when viewed over a longer timeframe. Exactly one year ago, the XRP Ledger hosted just $45.179 million worth of tokenized real-world assets.

Today’s figure of $1.001 billion represents an increase of roughly $956 million in just twelve months, marking one of the fastest tokenization growth rates among major blockchains.

This expansion aligns with broader institutional narratives around asset tokenization. BlackRock CEO Larry Fink has repeatedly described tokenization as “inevitable,” and major asset managers continue to experiment with blockchain-based representations of traditional financial instruments.

The momentum is not going unnoticed by investors. Last year, Bitwise described XRP as one of the “cleanest” ways to gain exposure to the future of tokenization, an assessment that appears increasingly validated as XRPL’s on-chain RWA footprint expands.

Outlook: XRPL Positions Itself As A Tokenization Hub

The XRP Ledger’s $1 billion milestone signals more than just numerical growth, it reflects a strategic shift toward real-world utility at a time when crypto markets are recalibrating.

As speculative cycles cool, blockchains that deliver tangible financial infrastructure are gaining traction. XRPL’s growing mix of stablecoins, treasury instruments, private credit, commodities, and represented assets positions it as a practical settlement layer for tokenized finance rather than a purely speculative network.

With RLUSD continuing to scale and institutions increasingly experimenting with tokenization models, XRPL appears well-positioned to benefit from what many industry leaders view as the next major phase of blockchain adoption.

More details on the milestone were highlighted in industry reporting shared here, citing on-chain data from RWA.xyz:

As tokenization narratives continue to evolve, the XRP Ledger’s rapid ascent from $45 million to over $1 billion in real-world assets may prove to be only the beginning.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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