of $XRP Ledger currently hosts $1 billion worth of tokenized products, making these financial products the largest tokenized asset class on the network.
meanwhile of $XRP prices are strugglingreflecting the broader cryptocurrency market turmoil. $XRP The ecosystem continues to reach new milestones in the areas of tokenization and on-ledger technology improvements. in particular, $XRP Ledger (XRPL) currently boasts $1.14 billion in tokenized products.
Interestingly, these products represent the single largest tokenized asset class on XRPL. make up 52.6% of total tokenized real world assets (RWA) on the network value 2,173 million dollars. The largest of these tokenized commodity products is Justoken’s JMWH.
Important points
- on the other hand, $XRP The price has been struggling lately, down 15.56% over the past week. $XRP The ecosystem continues to achieve new milestones.
- One such milestone is $XRP Ledger recently surpassed $1 billion.
- Tokenized products worth $1.14 billion compensate 52% of total tokenized RWA on XRPL; value 2,173 million dollars.
- Stablecoins ($422.8 million) and private credits ($322.3 million) account for the next largest portion of XRPL’s total tokenized RWA.
- Justoken’s JMWH product accounts for the majority of the tokenized commodity value, valued at $861 million, with 12 holders.
XRPL tokenized products exceed $1 billion
This is due to on-chain data provided by RWA.xyz, the leading data analytics resource for real-world assets. tokenization. especially, $XRP According to RWA.xyz, Ledger hosts $2.173 billion worth of tokenized real-world assets, including stablecoins. this is after 2 weeks Basics of cryptography Confirmed The ledger has passed the $1 billion milestone.
Further data shows that tokenized goods are the largest contributor to this $2.173 billion figure. For the uninitiated, a tokenized commodity is a digital token that represents a real-world commodity, a security associated with the commodity, or an investment fund that tracks raw materials or natural resources. Examples include tokenized gold, silver, platinum, copper, oil, corn, wheat, etc.
XRPL currently hosts $1.141 billion worth of these products, representing 52.6% of all real-world assets hosted on the network. Interestingly, this ranks XRPL second on the list of chains with the highest value for tokenized goods. behind Ethereum and 5 billion dollars. XRPL outperforms Polygon, Arbitrum, and BNB Chain.
Tokenized products on XRPL
What tokenized products exist on XRPL?
Tether’s gold token represents the largest tokenized product on Ethereum, while XRPL hosts Justoken’s JMWH asset. Specifically, JWMH is a digital token, with each unit effectively equivalent to 1 megawatt hour (MWh) of energy from an energy company. It helps process payments and allows users to directly track green energy through actual energy production.
Justoken, B2B platform RWA tokenizationhas deployed $861 million worth of JMWH assets into XRPL, making it the largest contributor to the commodity’s $1.14 billion. Justoken only hosts assets on XRPL, so this represents all JMWH values.
Interestingly, the rest of XRPL’s offerings are from Ctrl Alt’s Diamond Collection. Specifically, Ctrl Alt’s Diamonds: AD collection accounts for $105 million. Meanwhile, Diamond: SD Collection supplement $46 million for L Collection boast $38.5 million. AlsoFS Collection has a value of $35 million.
Other tokenized asset classes on XRPL
Beyond commodities, XRPL also hosts millions of dollars worth of other tokenized asset classes as adoption continues to grow. Specifically, the network boasts $422 million worth of stablecoins. Ripple stablecoin, RLUSDwhich contributed the most, with approximately $347 million.
In addition, XRPL also has $298 million worth of private credit. Meanwhile, multiple platforms tokenized $180 million worth of US Treasury debt as part of a decentralized asset. $XRP ledger. Basics of cryptography We have confirmed this increase in value. Last month’s report reported on the total amount of government debt tokenized.