Key Takeaways
XRP Ledger is evolving from a payments network into a platform for tokenized securities, money market funds, stocks, repos and loans, Ripple CTO emeritus David Schwartz said.
XRP Ledger recorded $2.25 billion in tokenized real-world assets in the first quarter, up 124% from the prior period, as enterprises expand use of the network beyond payments.
"Enterprises are using the XRP Ledger to provide tokenized real-world assets," David Schwartz, Ripple's CTO emeritus, said in a recent "XRP in One Minute" session. "In the near future, they will be offering everything from tokenized securities to money market funds, even things like tokenized stocks."
The XRPL real-world asset market cap reached $2.25 billion by the end of Q1 2026, according to network data. Daily transactions rose 35.3% quarter over quarter. RLUSD, Ripple's stablecoin, grew to more than $1.7 billion in market capitalization since its late-2024 launch, with $340.3 million on XRPL alone. The stablecoin now spans more than 40 chains through Wormhole's Native Token Transfers framework.
The expansion positions XRPL to compete with Ethereum for institutional tokenization business, a market that includes banks, asset managers and fintech companies testing blockchain-based versions of traditional financial products. JPMorgan, Mastercard, Ripple and Ondo Finance have already tested cross-border tokenized Treasury redemptions using XRPL.
Schwartz said the XRP Ledger followed Bitcoin's model of a native digital asset while adding support for issued assets such as stablecoins and tokenized real-world assets. That design, he said, allows enterprises to build financial products on XRPL that could eventually attract retail users and help decentralized finance replace traditional finance.
The roadmap comes as XRP trades near $1.06, down 18% over the past week and roughly 70% below its July 2025 all-time high of $3.65, according to CoinGecko data. Analyst ChartNerdTA warned that XRP could test $0.84, the middle regression band, representing a potential further 23% decline.
Tokenization competition intensifies
Ethereum remains the largest ecosystem for tokenized assets by market share, with established infrastructure and deep liquidity. But XRPL's Q1 growth rate of 124% in RWA market cap signals that capital is exploring alternatives. Crypto analyst Ledger Man claimed XRPL recorded about $1.5 billion in new RWA inflows over the past 30 days, though the figure has not been independently confirmed.
The tokenized real-world asset sector has become one of the fastest-growing segments in digital assets, with banks and asset managers increasingly testing blockchain-based versions of traditional products. Schwartz said tokenized repos and loans could emerge next on XRPL, bringing more traditional finance products onto the ledger.
This article is for informational purposes only and does not constitute investment advice.
