XRP Ledger Moves to Capture $530 Million in Tokenized Traditional Assets

An upcoming amendment to the XRP Ledger (XRPL) could allow institutions to keep token balances and transaction values private, while still providing selective visibility to issuers, auditors, and regulators.

The privacy-focused upgrade is now heading for a vote on XRPL, where more than $530 million in tokenized real-world assets are already recorded.

XRPL version 3.3.0, released this week, includes six proposed amendments. The most prominent, “Confidential Transfers,” is aimed at institutional users. It introduces encryption for balances and payment amounts tied to Multi-Purpose Tokens (MPTs), a structure Ripple has been promoting for assets such as funds and bonds.

The objective is to let institutions transfer tokens without revealing the size of holdings or individual transactions. While wallet addresses and token types remain visible on-chain, the specific values can be concealed.

Despite the added privacy, the network can still verify transactions using cryptographic proofs that confirm accuracy without exposing the underlying data.

Ripple has spent much of 2026 advancing XRPL’s role in tokenized finance. Last month, Aviva Investors launched a tokenized share class of its U.S. Dollar Liquidity Fund on the ledger, following an earlier partnership announcement with Ripple.

On-chain data shows the network already supports significant activity. According to RWA.xyz, XRPL hosts around $1.38 billion in tokenized real-world assets, including $845.7 million in RLUSD. Ondo accounts for $212.6 million, followed by VERT Capital at $116.1 million, Archax at $55.4 million, and Societe Generale at $11.6 million.

Excluding RLUSD, more than $530 million in additional tokenized assets remain on XRPL, though the market is still concentrated among a small group of issuers.

In its initial phase, Confidential Transfers will be limited. Participation is optional, and the feature currently supports only direct MPT transfers between accounts. It does not yet extend to XRPL’s built-in exchange, escrow services, or checks.

The other five amendments also target institutional needs. “Batch” enables up to eight transactions to be grouped together, including an all-or-nothing execution option. “Sponsor” allows one account to cover another’s fees and reserve requirements, removing the need for new users to hold XRP.

“Permission Delegation” lets accounts grant restricted transaction authority to third parties, while “Dynamic MPT” allows issuers to adjust certain token attributes after issuance.

Version 3.3.0 also introduces performance improvements and bug fixes. According to XRPL Operations, it reduces memory usage by 10% to 15% and improves node synchronization.

None of the amendments are active yet. XRPL changes must receive at least 80% approval from trusted validators for a continuous two-week period before going live.

Confidential Transfers must first clear that threshold. Afterward, the real test will be whether institutions such as Aviva or Ondo choose to adopt the privacy feature or continue operating with full transparency.