David Schwartz, Ripple’s Chief Technology Officer Emeritus, says the XRP Ledger is evolving beyond its original role as a payments network and is increasingly being used for a wider range of financial products.
Speaking during a recent “XRP in One Minute” session, Schwartz explained that the network is now being used to support tokenized real-world assets, with the potential for much broader applications in the future.
According to Schwartz, the XRP Ledger could eventually support tokenized securities, stocks, money market funds, repurchase agreements (repos), loans, and other traditional financial products brought onto blockchain networks.
He noted that Bitcoin helped introduce the concept of public blockchains by allowing people to store and transfer value without relying on a central authority. The XRP Ledger built on that idea by supporting not only its native XRP token but also other issued assets.
This flexibility has allowed the network to handle stablecoins, tokenized funds, and digital versions of real-world financial assets.
Schwartz said businesses and financial institutions are already using the XRP Ledger to issue and manage tokenized assets, highlighting growing interest in blockchain-based finance beyond simple payments.
His comments come as Ripple continues expanding the reach of its RLUSD stablecoin. The dollar-backed stablecoin is now available across more than 40 blockchain networks, giving developers additional liquidity for payments, decentralized finance applications, and tokenized asset projects.
The expansion includes several Ethereum-based networks as well as the XRP Ledger’s EVM-compatible sidechain, allowing developers to use familiar Ethereum tools while accessing RLUSD liquidity.
Stablecoins play an important role in tokenized finance because they provide a reliable digital dollar that can be used for trading, lending, settlements, and other financial activities.
Since launching in late 2024, RLUSD has grown rapidly and now has a market value exceeding $1.7 billion, strengthening Ripple’s position in the growing institutional blockchain sector.
Recent data also shows increasing activity on the XRP Ledger. Daily transactions rose significantly during the first quarter of 2026, while the value of tokenized real-world assets on the network more than doubled.
At the same time, RLUSD became the largest stablecoin operating on the XRP Ledger, reflecting growing adoption of the ecosystem’s financial services.
Interestingly, network activity has continued to rise even as XRP’s market performance has faced challenges. While the token’s price declined during the quarter, transaction volumes, stablecoin usage, and tokenized asset activity all increased.
Schwartz believes the next major step for the XRP Ledger will be the expansion of tokenized finance products. Bringing assets such as stocks, bonds, loans, and money market funds onto blockchain networks could open the door to new investment opportunities and more efficient financial markets.
However, widespread adoption will require strong regulatory compliance, reliable custody solutions, sufficient liquidity, and trusted institutions willing to issue and manage these assets.
Recent pilot projects involving major financial companies have already demonstrated how tokenized assets can move across blockchain networks while traditional banks continue handling cash settlements behind the scenes.
For Ripple and the XRP Ledger, the real test will be whether these early experiments can develop into large-scale financial products that attract both institutional and retail users in the years ahead.
