Robinhood Confirms Ripple Has Tokenized Millions on XRP as Network Reaches $2.18B in RWA

Leading trading platform Robinhood recently confirmed that Ripple has tokenized millions of dollars on the XRP Ledger.

Robinhood Markets shared its position on real-world asset tokenization in a seven-page memo dated January 2025 and filed with the U.S. SEC on Feb. 11, 2025. In the document, the company explained the benefits of tokenization and regulatory hurdles in the U.S.

The trading platform also confirmed that Ripple has tokenized hundreds of millions of dollars’ worth of assets on the XRP Ledger. Notably, data shows that the XRPL now hosts $1.8 billion in tokenized RWAs, excluding stablecoins, and $2.18 billion including them.

Key Points

• Robinhood published a seven-page tokenization memo in January 2025 and filed it with the SEC today.
• The memo states that Ripple has tokenized hundreds of millions of dollars in real-world assets on the XRP Ledger.
• McKinsey & Company estimates tokenized funds could approach $2 trillion by 2030, excluding cryptocurrencies and stablecoins.
• The XRPL holds $1.8 billion in tokenized RWAs, excluding stablecoins, and $2.18 billion when stablecoins are included.
• Commodities account for $1.1 billion on XRPL, private credit represents $322.7 million, U.S. Treasury debt totals $180.6 million, and stablecoins add $424 million.
• The XRPL recorded 159% RWA growth over 30 days, compared to Solana’s 46% and Ethereum’s 15.49%.

Ripple and XRPL Stand Out in Institutional Tokenization

In the document, spotlighted by WrathofKahneman (WOK), Robinhood defined tokenization as the process of placing a digital version of a real-world asset on a blockchain. The memo listed several categories of tokenized assets, including stablecoins, tokenized securities, tokenized real estate, and non-fungible tokens.

January Robinhood tokenization memo notes #Ripple has tokenized "hundreds of millions of dollars of RWAs on the #XRP Ledger (XRPL)." pic.twitter.com/yaffFs8JzX

— WrathofKahneman (@WKahneman) February 10, 2026

Robinhood then highlighted Ripple as a major participant in real-world asset tokenization. The memo stated that Ripple has tokenized hundreds of millions of dollars in real-world assets on the XRP Ledger. This has been through partnerships with established names such as Ctrl Alt, Ondo Finance and Securitize, among others.

Robinhood mentioned Ripple’s activity alongside BlackRock and Goldman Sachs. For context, BlackRock launched its BUIDL Fund in March 2024 to tokenize U.S. Treasuries. Goldman Sachs has also rolled out several tokenization initiatives, with a focus on real estate and money market funds. 

Robinhood also called attention to research from McKinsey & Company, which estimates that tokenized funds could reach approximately $2 trillion by 2030, excluding cryptocurrencies and stablecoins. This projection confirms how seriously major financial players view this market.

XRPL’s Growing Real-World Asset Market

Meanwhile, recent data from RWA.xyz shows that the XRPL now holds $1.8 billion in tokenized real-world assets, excluding stablecoins. That total places XRPL as the sixth-largest blockchain by RWA value. For context, this figure counts both distributed and represented assets on the network.

Over the past 30 days, XRPL recorded a 159% increase in real-world asset value, which marks the strongest growth among leading chains during that period. Solana followed with a 46% increase, while Ethereum posted a 15.49% rise. Notably, The Crypto Basic reported just three weeks back that the XRPL had surpassed $1 billion.

When analysts include stablecoins, the total value of real-world assets on XRPL rises to $2.18 billion. The JMWH commodity product on Justoken accounts for the largest share. 

Commodities represent $1.1 billion of the total, private credit contributes $322.7 million, and U.S. Treasury debt adds $180.6 million. Stablecoins make up $424 million, and RLUSD alone accounts for $348 million of that amount.

Benefits of Tokenization

In the memo, Robinhood presented several benefits that tokenization can deliver. The company argued that blockchain networks can increase liquidity by making assets like real estate easier to trade. Smart contracts can cut out middlemen and lower costs. Meanwhile, blockchain records can bolster transparency.

Tokenization also allows fractional ownership, which gives retail investors access to high-value assets. In addition, blockchain systems support global access and round-the-clock trading. Robinhood also believes tokenization can widen financial access for people who previously lacked investment opportunities.

Regulatory Hurdles in the U.S.

Meanwhile, Robinhood argued that U.S. regulations slow innovation. The company noted that current securities laws require most tokenized real-world assets to follow traditional compliance frameworks, which limits retail participation. It also pointed out that regulators have not created a clear structure for blockchain-native issuance and trading outside existing securities categories.

However, other regions have moved faster. For instance, the European Union introduced the Markets in Crypto-Assets (MiCA) regulation to create unified rules across member states. Hong Kong, Singapore, and Abu Dhabi have also adopted blockchain-friendly policies.