Tokenized Treasuries on XRPL Explode 8X as Total RWA Volume Surges Past $3 Billion

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• Tokenized treasuries on the XRP Ledger (XRPL) have surged in the past year, with Evernorth noting an 800% increase year-over-year.

• Justoken’s JMWH led the rally as the total RWA value on the XRP Ledger surpassed $3 billion, adding $1 billion in the past week.

Tokenized treasuries on the XRP Ledger (XRPL) have surged 800% year-over-year, surpassing $500 million, with the total real-world asset value hitting $3 billion.

Evernorth, the largest public XRP treasury company, shared the milestone on Tuesday, revealing that as of a week ago, tokenized treasuries had hit $418.5 million, an 8x increase in the past year. Since then, the figure has shot up to $537 million, the latest data from rwa.xyz reveals.

1/4 Tokenized US Treasuries on XRP, 12 months ago: ~$50M. Today: ~$418M.

That’s 8x in a single year. 🧵👇

Learn more about Evernorth: https://t.co/fetbgY3jN7 pic.twitter.com/rqJQzDhplu

— evernorthxrp (@evernorthxrp) April 28, 2026

As we reported earlier this year, tokenized treasuries amounted to $300 million in February, and have nearly doubled since, as the XRP Ledger continues to attract some of Wall Street’s largest players.

Overall, real-world assets on-chain have been on a sharp uptrend for the past two years, with the total market now hitting $30.3 billion. Ethereum tops the charts at $16.4 billion, with BNB Chain, Solana and Stellar the other major players.

However, the XRP Ledger has recorded one of the fastest rises in the sector. While Ethereum’s RWA assets have doubled in the past year, XRPL has gained 8x in that time and now ranks higher than established networks like Polygon, Base and Algorand.

The transfer volume for tokenized treasuries has also skyrocketed, Evernoth reveals. Year-to-date, the volume stands at $352 million, over 500% higher than the $70 million recorded in the whole of 2025.

Image courtesy of Evernorth.

Evernorth notes:

“More US Treasuries are getting tokenized on XRP, and the ones already there are moving more often. When the most risk-averse capital in finance is picking a rail at 8x year-over-year, the venue decision is being made in the data.”

Total RWA Volume on XRPL Hits $3 Billion

The rapid growth in tokenized securities has boosted the overall value of the real-world assets on the XRP Ledger, which has added over $1 billion in the past two weeks. Data from rwa.xyz indicates that the total value now stands at $3.073 billion.

Image courtesy of rwa.xyz

Justoken leads the pack, with its JMWH tokens accounting for nearly half of all the assets at $1.76 billion after doubling its value in the past month. Justoken is an infrastructure provider whose high-value partnerships with real-world giants like Argentina’s state-owned energy firm YPF Luz have brought billions to the XRPL ecosystem. Each JMWH token represents a megawatt-hour of energy in the real world.

Ripple’s stablecoin, RLUSD, which the California company has been expanding aggressively this year, sits behind Justoken at $401 million, with VERT Capital in third and accounting for 10.6% of the market share.

Market experts from the Boston Consulting Group, Citigroup and Standard Chartered have projected that tokenization of real-world assets will account for up to $16 trillion worth of value by the end of the decade. This has sparked a race in the industry to become the premier network for this vast market, and with $5 billion in RWA assets currently, XRPL is emerging as one of the strong favorites.