According to Messari’s State of XRP Ledger Q2 2025 Report, the XRP Ledger (XRPL) achieved a milestone market capitalization of $131.6 million in tokenized real-world assets (RWA), marking the highest quarterly figure for the network. This surge reflects robust adoption as institutions and developers leverage XRPL’s low fees, fast settlement and native token issuance capabilities.
Key contributors to this growth include Ondo Finance’s OUSG tokenized treasury fund, which combines U.S. Treasury securities with blockchain transparency, and Guggenheim’s digital commercial paper issuance, enabling short-term debt tokenization onchain. These flagship products underscore XRPL’s appeal as a foundation for regulated financial instruments.
In March 2025, the integration of RWA.XYZ—a leading tokenized asset tracking platform—further accelerated onchain activity. The platform now supports 13 live RWA issuances, offering users comprehensive data access and integration with XRPL’s automated market makers. Messari analysts attribute half of the market cap increase to this expanded ecosystem connectivity, which reduced barriers for both issuers and investors.
Additional developments include Ctrl Alt’s tokenized real estate offerings, fractionalizing property ownership and democratizing access to high-value assets. By converting conventional real estate into ERC-20 style tokens, Ctrl Alt enables micro-investment models, diversifying portfolio strategies beyond conventional cryptocurrencies.
The record RWA market cap positions XRPL as a leading protocol for bridging traditional finance with blockchain. Industry experts note that sustained growth depends on regulatory clarity, interoperability standards and continued collaboration between financial institutions and blockchain developers. XRPL’s ability to host high-profile issuances cements its reputation as a scalable and resilient ledger for emerging asset classes.
As the network builds on this momentum, stakeholders anticipate further innovation in tokenized instruments, including supply chain financing, carbon credits and insured instruments. The Q2 results serve as both validation of XRPL’s infrastructure and a blueprint for future integration, demonstrating how specialized blockchain frameworks can underpin multi-trillion-dollar financial markets.
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