Asset manager VanEck has identified the XRP Ledger (XRPL) as a potential contender in the expanding corporate blockchain market, listing the network across three financial sectors that it estimates could represent a combined $45 billion in annual revenue opportunities by 2030.

The assessment appears in VanEck's report on the rise of corporate blockchains, authored by researchers Matthew Sigel and Patrick Bush. The research examines how financial institutions are increasingly weighing blockchain infrastructure built for regulated and institutional use rather than relying exclusively on public networks.

VanEck placed XRPL alongside institutional blockchain platforms such as JPMorgan's Kinexys, Fnality and Tempo in the cross-border payments segment. The network was also named among contenders in collateral and settlement, as well as securitization, underscoring how the same infrastructure can be evaluated across multiple back-office and transaction workflows rather than a single use case.

$20 Billion Cross-Border Payments Opportunity

Cross-border payments form the largest of the three markets highlighted by VanEck, which estimates a potential $20 billion in annual revenue by 2030.

The estimate is grounded in global foreign-exchange activity. With roughly $7.5 trillion in FX transactions taking place each day, VanEck assumed that between 5% and 10% of this activity could eventually move on-chain, then applied a potential take rate of 5 to 10 basis points to calculate the opportunity.

Traditional banks and SWIFT were identified as the established infrastructure providers, while Ethereum, Tron and Base were cited as public blockchain challengers. On the corporate and permissioned side, VanEck included Kinexys, Fnality, Tempo and XRPL — an indication that the firm views the network as a potential institutional infrastructure option for financial transactions migrating to regulated blockchain environments.

Settlement and Collateral Market Could Add $10 Billion

VanEck also identified XRPL in the collateral and settlement market, which it estimates could produce $10 billion in annual revenue opportunities by 2030.

The firm noted that approximately $2.3 quadrillion is settled through financial markets, creating a substantial addressable base for blockchain-based infrastructure. Its model assumes that around $5 trillion of this activity could eventually move on-chain, with take rates ranging from 10 to 30 basis points.

In this category, XRPL appears alongside Canton and Kinexys. Public blockchain challengers include Ethereum, Base and BUIDL, while traditional infrastructure providers include DTCC, LCH and Euroclear.

According to the research, a shift toward blockchain-based settlement could reduce transaction costs, improve processing speed and create more streamlined mechanisms for transferring collateral and settling financial assets.

XRPL Included in $15 Billion Securitization Opportunity

Securitization is the third market where XRPL appears. VanEck listed the network alongside Provenance — represented by FIGR — and Canton in a sector it estimates could offer $15 billion in annual revenue opportunities by 2030.

That estimate rests on an expected securitization market of between $3 trillion and $4 trillion. VanEck projected that 10% to 20% of the market could eventually move on-chain, with take rates ranging from 50 to 300 basis points.

Taken together, cross-border payments, settlement and securitization — the three markets in which XRPL is identified as a contender — represent a combined potential revenue opportunity of $45 billion annually by 2030. VanEck's figures do not indicate that XRPL itself would capture $45 billion in revenue; rather, the amount reflects the estimated size of the opportunities across markets where the network is considered among potential corporate or permissioned blockchain participants.

Corporate Blockchains Gain Momentum

VanEck expects more companies to develop or adopt dedicated blockchain infrastructure as financial institutions seek greater control over transaction costs, compliance and settlement processes. The firm estimates that corporate blockchains collectively could generate more than $60 billion in annual revenue by 2030, supported by faster transaction processing, regulated stablecoins and deepening integration between digital assets and the traditional banking system.

At the same time, VanEck cautioned that public blockchains could face pressure if they fail to establish sustainable economic models as financial activity increasingly shifts toward private and regulated blockchain networks.

For XRPL, its appearance across three major financial sectors in VanEck's research highlights the broader institutional use cases being considered for blockchain infrastructure beyond cryptocurrency trading. The assessment also situates the network within a growing competitive landscape spanning public blockchains, bank-operated networks and purpose-built institutional platforms.