Ripple’s RWA Push Ties Into BlackRock-Led Tokenization Wave

A crypto commentator who has covered the space since 2017 argues that Ripple and XRP are moving into a much larger game than cross-border payments: the tokenization of real-world assets (RWAs) alongside giants like BlackRock.

In a recent video, Wendy O a.k.a Crypto Wendy frames the next cycle around a “trifecta” of AI, DeFi, and RWAs — and places Ripple in the same strategic lane as Ethereum, Solana, and Hedera.

Ripple Payments Rely On RLUSD & a Quiet $100B

The video spotlights Ripple Payments, described as a platform that lets businesses “send, hold, convert, and pay out money in fiat or stablecoins, all on one platform.” According to the host, the service now processes over $100 billion in payments across more than 60 countries, with real-time settlement and instant FX conversion.

That volume is characterized as “kind of on the low end” but growing significantly.

The market expert then turns to RLUSD, Ripple’s stablecoin, which has “recently surpassed” a $1 billion market cap. In their view, RLUSD and the XRP Ledger (XRPL) could become key infrastructure for AI agents transacting via micropayments, creating their own closed-loop economic systems on-chain.

XRPL’s RWA Jumps 1,300% — Mostly Institutional

The most striking data point in the breakdown is a reported “1,300% monthly increase” in RWA volume on XRPL, hitting roughly $139.85 million. Total value in XRPL pools is cited at $1.5 billion, with RLUSD again identified as the primary driver, alongside Ondo Finance’s tokenized U.S. Treasury products.

The host calls Ondo “like BlackRock’s baby and the leader in RWAs,” tying XRPL’s growth to broader institutional tokenization trends.

Even so, she stresses that most XRPL-based assets are currently used by banks and institutions as “record-keeping layers, not for transfers.” XRP itself remains the settlement asset in this model, so deeper liquidity and higher transactional volume could benefit XRP holders if RWA activity continues to expand and the broader bear market eases.

BlackRock, Private Chains & The XRP Trifecta Bet

Wendy’s video repeatedly references BlackRock CEO Larry Fink’s stance that “everything’s going to be tokenized,” while noting that much of this infrastructure is likely to run on more private or permissioned ledgers rather than the public chains retail users trade on today.

Current RWA tokenization is estimated at about $25 billion, spanning treasuries, commodities, private credit, alternative funds, corporate bonds, and non-U.S. sovereign debt — with “most of the growth” coming from top-notch U.S. institutional allocations instead of active secondary trading.

For investors, the host’s key filter is straightforward: watch chains that sit at the intersection of spot ETFs, AI, DeFi, and RWAs, with some privacy capabilities. Ripple and XRPL fit that thesis, but they’re framed as part of a broader structural shift rather than a standalone outlier.

The takeaway: RWA tokenization remains small next to traditional markets, but capital and infrastructure are clearly aligning around a few core ecosystems.

If the “trifecta” thesis plays out, assets and protocols that anchor AI-driven payments, institutional RWAs, and compliant DeFi rails could see outsized strategic importance — including Ripple, provided it continues to secure those integrations over fresh acquisitions.

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People Also Ask:

How big is RWA tokenization today? The host cites roughly $25 billion in tokenized RWAs, mostly in treasuries, bonds, and private credit, driven mainly by institutional allocations.

What role does XRP play if banks use XRPL just for record-keeping? According to the video, XRP is still used for settlements, so more institutional activity and liquidity on XRPL could translate into higher demand for XRP.

Why is RLUSD important in this narrative? RLUSD is described as the main stablecoin on XRPL, recently surpassing a $1 billion market cap and acting as a key liquidity driver for RWAs and potential AI-agent micropayments.

How is BlackRock connected to XRPL’s RWA activity? The host links Ondo Finance’s tokenized treasury products on XRPL to BlackRock, characterizing Ondo as “BlackRock’s baby” and a leading RWA player, though details of that relationship are not fully unpacked in the video.

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