New XRP Ledger amendments target $530 million in tokenized Wall Street assets
A new XRPL amendment proposal would let institutions encrypt token balances and transfer amounts while still giving issuers, auditors and regulators selective access.
A forthcoming update to the XRP Ledger, to be voted on soon, targets over $530 million of tokenized Wall Street assets. The update, part of XRPL version 3.3.0, introduces "Confidential Transfers," a feature designed for institutional users. This privacy tool encrypts the balances and payment amounts within Multi-Purpose Tokens, allowing institutions to move tokens without disclosing the size of every position or transfer.
The ledger can still verify the sums without revealing the numbers, using cryptographic proofs. Ripple has been actively pushing the XRPL into tokenized finance, with Aviva Investors recently launching a tokenized share class on the ledger. Currently, about $1.38 billion of distributed real-world assets are tracked on XRPL, with more than $530 million of tokenized assets outside RLUSD, primarily in the hands of a few issuers.
The other amendments in version 3.3.0 include batch, sponsor, permission delegation, and dynamic MPT, which aim to streamline transactions and delegate authority. However, the impact of these changes remains to be seen, as XRPL amendments require 80% support from trusted validators before activation.
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