XRP Ledger Gains Ground in Tokenized Treasury Market Amid Distribution Challenges
- Tokenized U.S. Treasuries market size is approximately $10.7 billion.
- XRP Ledger (XRPL) holds about 62.6% of the circulating supply of OpenEden’s TBILL token, totaling around 54.41 million tokens.
- Monthly transfer volume for TBILL on XRPL is only $200, compared to $3.09 million on Ethereum and $3.62 million on Arbitrum.
- Stablecoin market cap on XRPL is approximately $424.9 million, with a monthly transfer volume exceeding $1 billion in January.
- Aviva Investors announced a partnership with Ripple to tokenize traditional fund structures on XRPL over the next decade.
The competition for dominance in the tokenized treasury space is intensifying, with XRPL showing significant holdings but limited trading activity compared to Ethereum and layer-2 solutions. The focus has shifted from mere issuance to effective distribution and utility of these assets.
Currently, while XRPL holds a substantial portion of TBILL supply, it accounts for only about 0.003% of the monthly transfer volume, indicating challenges in establishing itself as a viable trading venue.(Source)
