US Treasury Debt

Public Equity

Stablecoins

non-US Government Debt

Real Estate

The XRP Ledger (XRPL) is a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging crypto-native and real-world assets. Designed to support businesses and builders, it is powered by XRP, a cryptocurrency purpose-built for payments. Trusted by over 1,000 visionary builders and businesses worldwide, the XRP Ledger offers institutional-grade functionality and built-in features to enable secure, efficient, and scalable financial services and use cases. It's more than just a blockchain – it's a global developer community dedicated to transforming future business solutions. Learn more and build your business with confidence at XRPL.org.

abrdn Liquidity Fund

Montis Group Limited

Standard Custody & Trust Company

Ondo I

Great Bridge Capital Company, LLC (Great Bridge) is a fully supported, multiseller asset-backed commercial paper (ABCP or CP) program established in June 2014. Great Bridge is structured as a bankruptcy-remote, special-purpose Delaware limited liability company. Its primary purpose is to purchase assets and make loans secured by interests in various financial assets and other eligible securities by issuing CP with maturities of up to 397 days. Guggenheim Treasury Services, LLC (GTS) serves as the program’s manager, The Bank of New York Mellon (BNYM) serves as the program’s Issuing and Paying Agent (IPA).

Great Bridge

Treasury Bills Institutional Liquidity Limited is a registered Professional Fund established under the British Virgin Islands Securities and Investment Business Act 2010 and regulated by the British Virgin Islands Financial Services Commission. It is the issuer of the TBILL token, which is backed by short-duration U.S. Treasury Bills.

Treasury Bills Institutional Liquidity Limited

Circle is a fintech firm central to the emerging internet of money, enabling instant, affordable global transactions. Its infrastructure, including USDC, a dollar stablecoin, supports businesses, institutions, and developers, unlocking new opportunities in payments and commerce.

Circle

The Dubai Land Department (DLD) is the Dubai Government entity responsible for the registration, organization, and promotion of real-estate investments in Dubai. The department aims to provide an attractive environment for investment by implementing international standards across the real estate sector, particularly in terms of land registration procedures. DLD’s responsibilities also include improving the sector’s monitoring and control functions, overseeing and developing its leasing regulations, and encouraging investment through the establishment of an effective enabling environment. The department’s vision is to position Dubai as the world’s premier real estate destination and as a byword for innovation, trust, and happiness.

Dubai Land Department

United States of America

British Virgin Islands

United Kingdom

Luxembourg

XRP Ledger

Archax is an FCA regulated digital asset exchange, broker and custodian, based in London. Founded by capital markets experts, Archax offers the credible bridge between blockchain and traditional finance, supporting a range of assets including cryptocurrencies and regulated tokenised real-world assets. Archax supports the full digital asset lifecycle from token issuance and distribution through to trading and custody.

Archax

RLUSD

Ondo provides institutional-grade, blockchain-enabled investment products, from government bonds to high-yield bonds.

Ondo

Zeconomy’s mission is to enhance the value, utility, and returns of traditional financial products through blockchain technology. With top-tier security and compliance, its platform, AmpFi.Digital, delivers asset-backed, rated digital assets built on stable instruments like T-bills and commercial paper that can be transformed into new utility, higher returns, and unique opportunities for issuers, DeFi platforms, and corporate investors.

Zeconomy

OpenEden Digital ("OED") is a Bermuda Monetary Authority ("BMA") licensed digital asset issuer. OED operates under a Digital Assets Business License issued by the BMA permitting it to issue, sell or redeem virtual coins, tokens or any other form of digital asset. OED is a wholly owned subsidiary of OpenEden Group ("OEG").

OpenEden Digital

Ctrl Alt is the go-to B2B infrastructure provider for alternative assets. We are dedicated to addressing the real-world challenges facing the financial sector today. From empowering asset owners to discover innovative ways to raise capital, to enabling investors to seamlessly allocate to alternative assets, we provide a comprehensive suite of solutions designed for simplicity, cost-efficiency, and innovation.

Ctrl Alt

abrdn Liquidity Fund (Lux) – US Dollar Fund

AYKON CITY 3 - TOWER A/A4102, Business Bay, Dubai

DAMAC CITY TOWER B/B-1701, Al Wasl, Dubai

The total outstanding principal amount in dollars.

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#	Protocol	RWA Count	Total Value	30D%	Market Share
1	Archax	3	$112.0M	▲0.34%	55.63% ▼
2	RLUSD	1	$37.4M	▼5.08%	18.57% ▼
3	Ondo	1	$30.1M		14.92% △
4	Zeconomy	1	$10.0M		4.97% △
5	OpenEden Digital	1	$5.2M	▲0.30%	2.57% ▼
6	Circle	1	$3.8M	▲381,979,448%	1.90% ▲
7	Ctrl Alt	4	$2.9M		1.45% △
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