XRP Ledger upranks, amassing tokenized commodities dominance
When it comes to guaranteeing on-chain transfers of gold or oil, more traders keep trusting XRPL.
Tokenized commodities on the XRP Ledger now exceed all other blockchains besides Ethereum, according to a new analysis by New York-based analytics provider RWA.xyz.
In its report on over $25 billion worth of tokenized gold, oil, silver, diamonds, emeralds, and copper, the value of XRPL tokenized assets now exceeds all such assets on Solana, Stellar, Base, BNB Chain, and Polygon combined.
Market Context
With ownership of over $1 billion worth of physical commodities trading based on XRPL tokenized certificates, some of the world’s largest asset managers trust the XRP token to process transactions for the world’s most discerning capital allocators.
Tokenizing a real world asset (RWA) requires a heightened level of diligence and compliance. Not merely a token to pay for on-chain activity like transaction processing or data storage, RWA tokens are certificates of ownership of physical assets, including gold bullion in a storage vault.
Seeing XRPL excel at this particular task should capture your attention far more than sensational, mark-to-market valuations of thinly traded tokens like memecoins on other projects.
Comically, creators have fabricated several “trillion dollar” crypto stunts over the years, trading a few ERC-20 or memecoins with a supply of 1 trillion against a $1 stablecoin. Although this instantly made them trillionaires according to the magic of mark-to-market bookkeeping, the reality of their wealth did not actually change.
In the same way, many other blockchains boast about ludicrous valuations for all sorts of vaporware or ultra-thinly traded assets.
XRPL, in contrast, actually stands atop all of those blockchains besides Ethereum in the settlement of real, physical, offline goods that are constituents of the wealth of nations like gold and oil.
News
Tokenized commodities on XRP Ledger exceed $1.1 billion (RWZ.xyz)
Arizona Attorney General files 20 criminal charges against Kalshi (Coindesk)
GSR acquires Autonomous and Architech for $57M (Reuters)
Citigroup reduces 12-month bitcoin price forecast to $112,000 from $143,000 (Reuters)
Five companies pass an initial qualification to launch Vietnam’s first licensed crypto exchange (Reuters)
Mastercard announces $1.8B deal with stablecoin provider BVNK (Bloomberg)
Judge in Sam Bankman-Fried case says mother Barbara lacks standing to file papers or seek relief (Bloomberg)
Phantom receives CFTC No Action letter to act as a non-custodial interface connecting users to registered derivatives platforms (CFTC)
Nothing in this newsletter is financial or investment advice. We summarize news for informational and entertainment purposes only. We do not provide advisory services, guidance, or information regarding trading or investing. Past performance is not indicative of future results.
XRP Premium Analysis
Beyond the news about tokenized commodities dominance, yes, another bit of good news that circulated on XRP social media is true. If you’ve seen the viral clip, I verified today a video from the i‑Payout office showing XRP at the center of a whiteboard marker diagram with JPMorgan and other banks integrating with the XRP token.
Although that hints of a possible XRPL integration with a major bank, there are several other pieces of data I want to highlight today, starting with over $100 billion…