TLDR
- Ripple confirmed that XRPL has crossed $2 billion in on-chain tokenized assets.
- The previous report of $1 billion was outdated due to a delay in analytics indexing.
- Ripple team member Luke Judges stated that XRPL doubled its tokenized assets in December alone.
- Ripple invested $10 million into OpenEden’s TBILL tokens to bring Treasury bills on-chain.
- Ripple partnered with Archax to bring hundreds of millions in tokenized assets to XRPL.
On Monday, a milestone related to on-chain tokenized assets on XRPL confused online, but Ripple swiftly clarified the facts. Ripple team member Luke Judges confirmed that XRPL crossed $2 billion in tokenized assets, surpassing earlier reports. He also highlighted December’s sharp increase and emphasized Ripple’s broader transformation strategy on the XRPL.
Ripple Team Refutes Earlier $1 Billion XRPL Claim
Crypto analyst Paul Barron announced that XRPL reached $1 billion in tokenized assets and celebrated the number on social media. However, Ripple’s Luke Judges corrected the figure, confirming that the XRPL surpassed $2 billion well before the post. Judges responded directly, stating, “We’re past 2 FYI,” pointing out the outdated data.
Judges explained the delay was due to indexing lags from analytics partner @RWA_xyz and their integration partners. Because of this data lag, public dashboards showed older numbers that did not reflect recent growth. He clarified that the actual asset total had already doubled by the end of December.
He revealed that XRPL saw rapid adoption in recent months, with December alone accounting for the leap from $1 billion to $2 billion. He said, “In December alone, we doubled [market cap] of RWA from 1BN to 2BN on the XRPL.” Judges emphasized that this growth signals increased utility, but the broader mission remains underway.
Ripple’s Institutional Strategy Fuels Asset Growth
Ripple has actively been converting XRPL into a financial infrastructure layer for institutions. To push this, Ripple invested $10 million into OpenEden’s TBILL tokens, bringing Treasury bills on-chain. These tokens offer users on-chain access to short-term US government debt.
The TBILL tokens represent low-risk yield products settled directly on XRPL, without the need for centralized intermediaries. This development aligns with Ripple’s long-term plan to bridge traditional finance with blockchain-based systems. The TBILL assets are part of Ripple’s effort to increase asset diversity on the XRPL.
Ripple also partnered with Archax, a UK FCA-regulated exchange for digital securities, to boost XRPL’s institutional offerings. Archax committed to bringing “hundreds of millions” in tokenized assets onto XRPL. These assets will include tokenized funds from established names like abrdn, expanding XRPL’s financial footprint.
Judges highlighted that the real goal is building an ecosystem that supports deep, liquid capital markets on-chain. He wrote, “Jobs not done till there’s a fully fledged, deep & mature ecosystem around these assets.” Ripple appears focused on continued infrastructure development rather than declaring success.
XRPL Momentum Continues into 2024
As of January, the XRPL has crossed the $2 billion tokenized asset mark with verified internal data from Ripple. The pace of growth during December suggests strong institutional participation and product rollout success. Ripple’s commitment to real-world asset (RWA) integration continues through strategic investments and partnerships.
New asset inflows are expected once indexing platforms fully reflect the latest network activity. Judges pointed out the impact of delayed analytics reporting from third-party sources like @RWA_xyz. Ripple plans to ensure these figures are visible once data syncs across systems.
XRPL is actively positioning itself as a blockchain solution beyond payments, aiming for financial infrastructure relevance. With regulated partners and on-chain treasury exposure, the platform continues to expand its real-world use cases.
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