Tokenised real-world assets (RWA) on XRP Ledger (XRPL) have grown to $4.06 billion. The number of holders also increased to 199, starting to show in the figures Ripple’s strategy to grow XRPL beyond a payments network into tokenisation infrastructure for institutions.

The Crypto Basic, a blockchain media outlet, reported on Aug. 5 that Ripple’s strategy to develop XRPL into a tokenised RWA hub is making progress in related indicators.

By RWA.xyz tallies, the value of tokenised assets on XRPL rose 2.18 percent over the past 30 days. Over the same period, the number of tokenised RWA holders increased 25.16 percent. XRPL currently lists 373 tokenised RWAs, and distributed asset value was tallied at $368.82 million.

The figures came shortly after Ripple announced investments in infrastructure companies ZILO and Licuido. Ripple said at the time that the purpose of the investments was to expand XRPL’s institutional capabilities. It aims to bring digital asset issuance and collateral management functions onto XRPL to meet demand from institutional finance.

Stablecoins have also grown into a pillar of the XRPL ecosystem. Stablecoin market capitalisation stood at $901.4 million, and related holders were tallied at about 60,240.

Not all network activity increased. Over the past 30 days, RWA transfer volume fell sharply to $18.15 million. Stablecoin transfer volume also fell 1.79 percent over a month to $3.89 billion.

The trend also ties in with figures presented by Evernode. Evernode said tokenisation on XRPL is growing faster than interest in an XRP spot exchange-traded fund (ETF). According to Evernode, tokenised RWAs on XRPL rose from about $73 million in January 2025 to about $900 million in December that year, and then expanded to about $4.3 billion.

By contrast, XRP spot ETFs have seen cumulative net inflows of about $1.5 billion since their launch in November 2025. With the current value of tokenised assets on XRPL almost three times larger, comparisons have emerged that the centre of inflows is shifting from simple investment products to network-based tokenisation infrastructure.

Ripple cites payment delays, unused collateral and fragmented liquidity as challenges for XRPL. It is adding functions to the platform to support token issuance, custody, collateral management, multi-currency and atomic settlement. It explained that the RLUSD stablecoin is being used for safe delivery-versus-payment transactions.

Expansion of institutional partnerships is also continuing. Ripple is widening its tokenised finance ecosystem based on cooperation with Aviva Investors, Franklin Templeton and DBS. The recent rise in RWAs on XRPL, together with the ZILO and Licuido investments, is being read as an indicator for gauging whether this institution-focused expansion strategy is leading to actual adoption.