The value of tokenized US Treasuries on the XRP Ledger (XRPL) skyrocketed from $50 million to $418.5 million between April 2025 and April 2026, marking an eightfold increase over 12 months, according to Trensik, a platform monitoring verified real-world assets (RWAs) on XRPL.
Surging Activity and Institutional Interest
Transaction volumes for tokenized Treasuries have grown even more rapidly than issuance. Over the past four months alone, $352.3 million in transfers were recorded, nearly matching the total on-chain value. This reflects a fivefold rise compared to the $70.1 million transfer volume seen throughout all of 2025, indicating that these assets are actively traded rather than held passively.
Financial institutions are increasingly adopting tokenized Treasuries for purposes like collateral use, liquidity management, and around-the-clock settlement, integrating them into the blockchain-based financial infrastructure.
Major players such as Ondo Finance, OpenEden, Guggenheim, and Archax have launched or committed to tokenized Treasury products on XRPL. Archax, a digital asset exchange regulated by the FCA, plans to tokenize up to $1 billion in real-world assets by mid-2026, surpassing the current market's size by more than double. This highlights the prospective institutional growth on the network.
Beyond Treasuries, tokenized Gold (XAUa) has exceeded $1 million in trading volume on XRPL, and the ledger now supports more than 8 million accounts. Whale wallets have also accumulated over 70 million XRP, signaling growing confidence among both institutional investors and large holders.
The growing integration of tokenized deposits with banks and regulators is part of a broader trend in blockchain finance.
Material herein is for informational purposes and does not constitute financial advice.
