RLUSD accounts for 62% of tokenized assets on the XRP Ledger

@Ripple's $RLUSD stablecoin now commands 62% of all tokenized assets on the XRP Ledger, cementing its position as the dominant on-chain instrument on the network. Data published on August 18 shows the stablecoin's total value on XRPL stands at $898.8M, up 1.82% over the past 30 days.

Who Else Ranks in the Top Tier

Ondo Finance holds the second spot with $212.9M in tokenized assets, representing a 14.78% share of the ledger's total. VERT Capital and Archax also feature among the major positions on XRPL, alongside RLUSD, Ondo, and Societe Generale. VERT Capital accounts for $116.1M and Archax $55.4M, according to the data.

The 30-day picture is not uniformly positive. Braza Crypto recorded the steepest decline among the top ten, falling 49.5% over the same period, highlighting the divergence in performance across issuers competing for space on the ledger.

A Growing Institutional Battleground

The concentration of value in $RLUSD reflects the broader momentum building around XRPL as an institutional tokenization venue. Tokenized real-world assets on XRPL have reached roughly $2.5 billion, part of a global onchain RWA market that Token Terminal data puts at $44.7 billion.

Ondo Finance's presence on the ledger has deepened significantly this year. Ondo Finance, working with JPMorgan's Kinexys, Mastercard and Ripple, completed a near-real-time cross-border redemption of its tokenized U.S. Treasury fund OUSG on the XRP Ledger, with the transaction settling in under five seconds.

Archax, a UK-regulated digital securities exchange, had committed to bringing $1 billion in tokenized assets onto the ledger by mid-2026.

A proposed new XRPL amendment would let institutions encrypt token balances and transfer amounts while still giving issuers, auditors, and regulators selective access, targeting the growing market for tokenized real-world assets on the network. That kind of privacy infrastructure could further attract regulated financial institutions to the ledger.

Ripple has framed XRPL as a compliance-first platform built for institutional deployment. With over 12 years of uptime and more than $1 trillion processed, XRPL is evolving into a full-service financial platform for regulated DeFi, helping institutions send and receive payments, issue credit, trade digital assets, and move real-world value onchain.

Sources:
The Coin Republic: 10 Million RLUSD Minted on XRP Ledger
CoinDesk: New XRP Ledger Amendments Target Tokenized Wall Street Assets
PR Newswire: Ondo, JPMorgan, Mastercard and Ripple Complete Tokenized Treasury Redemption