XRP Ledger’s $5.05 Billion RWA Value Is Mostly Represented Assets

Tokenized real-world assets on the XRP Ledger were valued at $5.046 billion in an Oct. 17 snapshot. Most of that amount fell into a category for assets that cannot move between wallets, distinguishing the total from value that can circulate freely on the network.

The split is based on transferability. Represented assets cannot leave their issuing platform or move between wallets, and the ledger mainly serves as a recordkeeping and reconciliation layer for them. Distributed assets can move between wallets. The snapshot put $4.549 billion in represented assets and $496.6 million in distributed assets. It listed stablecoin market capitalization separately at $1.068 billion, outside the RWA total.

One energy token made up about 49% of represented value. JMWH, offered by Justoken, was valued at $2.229 billion. Each token represents one megawatt-hour of energy. The snapshot adds an asset-value measure alongside earlier coverage of tokenized commodity inflows on the XRP Ledger.

Tokenization also appears in fund structures. Aviva Investors launched a tokenized share class for its US Dollar Liquidity Fund on the ledger in July and received approval from the Central Bank of Ireland. Eligible investors with digital wallets can access the share class, while the fund’s assets remain with The Bank of New York Mellon.

In Brazil, CSD BR and Ripple announced a first phase to tokenize and mirror BTG Pactual investment-fund shares on the ledger using the Multi-Purpose Token standard. CSD BR’s systems will remain the official record, with the blockchain serving as an additional record and audit layer. Daniel Polano Spreafico, CSD BR’s head of products and clients, said, “In this phase, current processes remain unchanged for investors, issuers and participants.”