Ondo Finance accounts for the largest share at $221.8 million, followed by the OpenEden T-Bill Vault with roughly $55 million, while Guggenheim Treasury Services has about $40 million worth of institutional products on the Ledger.
Each of these deployments has a deeper meaning. For instance, Ondo’s OUSG token is backed by BlackRock’s USD Institutional Digital Liquidity Fund and allows qualified investors to mint and redeem tokens 24/7 using Ripple’s RLUSD stablecoin.
A Tiny Slice Of A $31 Trillion MarketIn 2025, tokenized assets on the Ledger surged by 2,200%, increasing from $24.7 million in January to $567 million by year-end. Even with these developments, the scale of allocation is microscopic when compared to the US Treasury market, which holds a value above $30 trillion. The current allocation on XRPL barely scratches the surface, representing a fraction of a fraction of total issuance. That is exactly what is adding to the long-term outlook.
