Ripple says tokenized asset activity on XRPL has shifted from pilots to production
RWA & Tokenization ·
Ripple's President says institutional tokenization on the XRP Ledger has moved past proof-of-concept stage into live, operational use over the past year.
Monica Long, President of Ripple, said that in the last year issuers have gone from running bank pilots to full production, and from merely issuing tokenized assets such as money market funds and liquidity funds to actively using them. She described institutional capital markets as moving in one direction: onchain, operating 24/7. Ripple's stated goal is to supply the full stack of digital asset infrastructure so institutional participants can engage with a tokenized asset across its entire lifecycle on the XRP Ledger.
The claim was amplified by a post on X, which characterized the shift as a switch that "just flipped," framing it as institutions officially moving past proof-of-concepts and pilot programs, with live real-world asset tokenization on XRPL now operational.
The distinction Long draws is between two phases of institutional adoption: an earlier phase where banks tested tokenization through limited pilots, and a current phase where tokenized instruments like money market funds and liquidity funds are issued and put into active use. That progression matters because it signals a change in how institutional capital markets treat onchain infrastructure — not as an experimental venue but as an operational one running continuously rather than on traditional market hours.
Ripple's positioning centers on providing infrastructure across the full lifecycle of a tokenized asset, from issuance through active use, on the XRP Ledger specifically. The material does not specify which banks or institutions are running these production deployments, the scale of assets involved, or a timeline beyond the general reference to developments over the last year.
Left unaddressed in the available material is any quantification of the money market funds or liquidity funds cited — no figures on assets under management, transaction volumes, or number of institutional participants are given. It also remains unclear which specific pilots transitioned to production or when that transition occurred. What to watch next is whether Ripple or other sources provide concrete data points, such as named issuers or measurable onchain volume, to substantiate the shift from pilot to production described here.