U.S. Treasury Debt on XRP Closes in on $300M Total Value

The total value of the U.S. Treasury Debt hosted in the XRP ecosystem now closes in on $300 million amid tokenized RWA growth in 2026.

While the XRP price has struggled this year, down 25.22% since Jan. 1, 2026, and 62% from the $3.66 peak from July 2025, the broader XRP ecosystem seems to be witnessing impressive growth in recent times, especially in real-world asset tokenization.

Specifically, market data confirms that the value of tokenized U.S. Treasury Debt on the XRP Ledger (XRPL) has moved closer to the $300 million mark, now standing at $299.9 million, making up nearly 34% of the total distributed RWA value on the ledger.

Key Points

• While XRP’s price has faced turbulence this year, down 25.22% year-to-date, the broader ecosystem has seen impressive growth, especially in RWA tokenization.
• The total value of tokenized U.S. Treasury Debt in the XRP ecosystem now edges closer to the $300 million mark amid a recent rapid expansion.
• With a current value of $299.9 million, tokenized U.S. Treasury Debt makes up about 34% of the total distributed RWA on the XRPL.
• Ondo accounts for most of the U.S. Treasury Debt hosted on the XRPL, with OpenEden and Guggenheim making respectable contributions.
• Ondo’s Short-Term US Government Bond product has increased by $120 million on the XRPL this year.

Impressive Growth in U.S. Treasury on XRP Ledger

Since the tokenization market caught the attention of finance industry leaders such as BlackRock CEO Larry Fink, multiple platforms have begun tokenizing U.S. Treasuries on public blockchains. For context, these tokenized Treasury products include government notes, debt, Treasury bills, and bonds.

Amid the increasing rate at which these products are moving onto public networks, the XRP Ledger has captured a portion of the momentum. 

Notably, at the start of 2026, the XRPL hosted $141.7 million worth of U.S. Treasury Debt. Today, the figure has increased to $299.9 million, less than $100K to the $300 million mark, per data from data analytics platform RWA.xyz.

U.S. Treasury Products on XRP

Of the $299.9 million figure, the Ondo Short-Term US Government Bond product makes up $160.183 million, accounting for a 53.4% share. Meanwhile, Guggenheim Treasury Services DCP from Zeconomy holds a $70.213 million value, representing a 23.4% share. OpenEden’s TBILL Vault makes up the rest, with $61.761 million in value.

Notably, this year’s growth came mostly from the Ondo product’s value increase, with minimal contributions from Guggenheim. Specifically, Ondo’s Government Bond rose from $40.74 million at the start of the year to the current $160.183 million, marking a 293% rise within two months. Meanwhile, Guggenheim’s Treasury product rose from $40 million to $70.2 million, an increase of $30 million.

Overall RWA Value Seeing a Rapid Increase

Besides U.S. Treasury products, the overall real-world assets market on the XRPL has recorded an impressive growth this year. The Crypto Basic confirmed recently that the XRP Ledger has welcomed an additional $1.3 billion in RWA value this year alone, surpassing the figure for the entire 2025.

Of the $2.3 billion total RWA value, U.S. Treasuries hold a 13% share. Meanwhile, the XRPL has $889 million worth of distributed RWA, with U.S. Treasury products accounting for 34%. The RLUSD stablecoin alone makes up 39% of the distributed RWA value.