Blockchain technology is starting to absorb established government resources at an alarming rate, and Ripple’s XRP Ledger (XRPL) platform is currently hosting US Treasury debt in digital form. Recent reports have revealed a massive augment in the number of tokenized treasures on the ledger, reflecting not only growing government interest in blockchain but also growing institutional adoption.
US Treasury Debt Is Skyrocketing on XRPL Ripple
Tokenized over the last year US Treasury debt on the XRP ledger skyrocketed to over $150.19 million. Data from the tokenized RWA.xyz analytics platform can be seen that digital platforms such as OpenEden Digital, Zeconomy, Ondo and Archax are the main drivers of the latest growth in activity and volume.
XRPL data also shows that US Treasury debt is not the only asset class to see growth on the network. Recent reports have revealed that the XRP Ledger has reached a significant milestone, surpassing $1 billion in total tokenized assets. While tokenized U.S. Treasury debt contributed significantly to this growth, other asset classes including stablecoins, private credit, commodities and private equity also saw significant volume, reflecting growing role in global digital finance.
Stablecoins recorded a peak volume of over $338 million in a $1 billion augment in tokenized assets, which is approximately 160% more than U.S. Treasury debt. By comparison, private equity totaled $55.2 million, which is less than 33% of tokenized treasuries.
Across all networks, U.S. Treasury tokenized holdings have now reached approximately $10 billion. While the percentage held by the XRP ledger is impressive, it still only accounts for 1.4% of the total. Nevertheless, the growth rate of US Treasury debt on XRPL is striking, indicating an augment of over 2,900% compared to approximately $5 million on the network in 2025.
The recent surge in tokenized U.S. Treasury debt on the XRP Ledger highlights the growing integration of established finance with blockchain technology. This also reflects the growing demand for Tokenization of real world assets (RWA).which has become a core aspect of Ripple and XRPL’s usability and a key factor in the network’s growth and expansion into broader markets.
Why is a massive deal
Historically, U.S. Treasury debt has been monitored and recorded conventional banking and government systems. As a result, trading relied heavily on intermediaries, transactions and settlements were ponderous, and most retail investors had narrow access. At the same time, paper records and centralized systems have dominated the market, making processes less crystal clear and tedious.
However, the introduction of blockchain technology has significantly improved the way debt is represented and managed. On the XRP ledger, Treasury debt can now be tokenizedenabling near-instant settlement and real-time verification on the public network. This reduces dependence on intermediaries and introduces a recent level of transparency and security compared to established methods.
The rise of tokenized sovereign debt also signals changes in investor behavior and broader market dynamics. It shows that blockchain-based assets can now compete with established markets by offering faster, more competent and accessible alternatives to institutions and governments.
Featured image from Peakpx, chart from Tradingview.com
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