Schwartz: XRPL Bets on RWA Tokenization, Stablecoins
Former Ripple CTO David Schwartz says XRPL is positioning itself as a leading platform for real-world asset tokenization and stablecoins. Tokenized assets on the ledger continue to expand as adoption grows.
Yuri Konnov
The stablecoin component of Schwartz's statement carries its own regulatory dimension. The GENIUS Act, which passed in 2025, established the first federal regulatory framework for payment stablecoins in the United States, requiring issuers to back tokens with full reserves. According to BDO's tokenization trends analysis for 2026, the passage of the GENIUS Act and the expected passage of the Clarity Act in 2026 have directly altered the compliance calculus for institutional issuers evaluating which ledgers to build on. Ripple's RLUSD stablecoin operates within that framework and has been cited by the company as a compliance-first product targeting institutional settlement use cases.
Institutional partners already active on XRPL include Archax, the UK-regulated digital securities exchange; Ondo Finance; OpenEden; Société Générale; Deutsche Bank; and Aviva Investors, according to U.Today's reporting on Schwartz's remarks. Archax has publicly targeted more than one billion dollars in tokenized assets on XRPL by mid-2026. The breadth of named counterparties across European and Asian institutions distinguishes XRPL's current partner roster from earlier phases of the ledger's development, which were concentrated primarily in cross-border payments.
The June 5 video segment does not constitute a protocol commitment, a regulatory filing, or a binding commercial agreement with any named institution. Schwartz did not disclose specific asset volumes under active tokenization, the identity of issuers preparing to launch tokenized products, the timeline for XLS-66's full deployment, or the fee structures associated with the Multi-Purpose Token standard. No third-party auditor or regulator has verified the asset figures cited in connection with XRPL's RWA growth trajectory.
The immediate effect of the June 5 statement is that Schwartz has publicly confirmed, on the record, the two product categories — RWA tokenization and stablecoins — that Ripple regards as XRPL's primary institutional growth vectors for the current period. What the statement does not establish is a launched tokenized product, a signed institutional mandate, a regulatory approval, or a disclosed commercial term with any of the named partner institutions.
