The value of tokenized real-world assets (RWAs) on the XRP Ledger has skyrocketed to $4.18 billion, a 28-fold increase from about $147 million recorded roughly a year earlier, according to Evernorth Research.
This growth reflects the accelerating pace of blockchain-based asset tokenization, especially within large-scale institutional use cases.
Institutional products have taken the lead in driving this expansion, with key drivers including tokenized commodity assets backed by energy, diamond inventory tokens, senior debt instruments, and US dollar liquidity funds contributing to the growth.
A prominent recent use case showcased a live cross-border repurchase (repo) transaction using a tokenized US Treasury fund, completed in under five seconds with JPMorgan Chase, Mastercard, Ondo Finance, and Ripple collaborating on the transaction.