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The XRP Ledger (XRPL) has recorded a new milestone in the world of tokenized assets. In the second quarter of 2025, its market capitalization for real-world assets (RWA) reached a record high. A recent industry report indicates that XRPL adoption is increasing rapidly as more assets launch on the network.

XRPL Closes Q2 With $131.6 Million RWA Market Cap

According to Messari’s State of XRP Ledger Q2 2025 Report, the XRP Ledger ended the second quarter of 2025 with a record $131.6 million market cap in real-world assets (RWA). It is the highest number ever recorded on XRPL in this sector. Messari linked this growth to a wave of new issuances first announced at the XRPL Apex event in Singapore in June 2025, which drew global attention.

Messari also notes that in March 2025, RWA.XYZ, a platform for tracking tokenized assets, has integrated with XRPL, making it easier for users to access key information about real-world assets on the ledger. The report confirmed that since the integration, 13 RWAs are live on RWA.XYZ, with more assets likely to follow.

The record market cap shows that XRPL is not only expanding in numbers but also in usefulness. According to the report, real-world assets issuances on XRPL could be evolving into a functioning and valuable market. 

Report Cites Expanding RWA Issuances Driving Adoption

One of the most notable is Ondo’s OUSG tokenized treasury fund. According to the report, this product combines the efficiency and transparency of the XRPL with the stability of U.S. Treasury securities. It has become a standout example of how blockchain can support safer and more stable investment options for both institutional and retail investors.

Another highlight in the Messari report was Guggenheim’s issuance of digital commercial paper on the XRPL. By tokenizing short-term debt, Guggenheim is using XRPL’s speed, low fees, and final settlement features. 

Another development noted in the report was the launch of Ctrl Alt’s tokenized real estate offerings, which allow investors to buy small pieces of property ownership on XRPL. Instead of needing a large amount of money to buy a whole property, people can now own fractions of high-value buildings.

These developments, cited in the Messari report, show how adoption of the XRP Ledger is steadily rising in the real-world assets market. It positions it as a bridge between traditional finance and the blockchain, where high-profile XRPL RWA issuances validate its growing role in the $50 trillion global RWA market.

The record RWA market cap of $131.6 million further points to XRPL’s growing strength in bringing liquidity, easier access, and greater transparency to markets that were once difficult to reach, including real estate and other traditional assets. With this momentum, the XRP Ledger closes the second quarter of 2025 with a new multi-million all-time high and a stronger foundation for the future of tokenized finance.

Featured image from DALL.E, chart from TradingView.com

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