New XRP Ledger Amendments Target $530 Million in Tokenized Wall Street Assets
Key Takeaways
- •XRPL version 3.3.0 proposes a Confidential Transfers amendment that would let institutions encrypt balances and payment amounts on Multi-Purpose Tokens while preserving account and token type visibility.
- •Approximately $1.38 billion in tokenized real-world assets are issued on the XRP Ledger, with more than $530 million outside RLUSD across issuers including Ondo, VERT Capital, Archax, and Societe Generale.
- •The release includes five additional institutional-focused amendments covering batch transactions, fee sponsorship, permission delegation, and dynamic token property modifications.
- •All proposed amendments require at least 80% continuous support from trusted validators over a two-week period before they can be activated on the network.
- •Version 3.3.0 also delivers technical improvements including a 10-15% reduction in memory usage and faster node synchronization speeds.
New XRP Ledger Amendments Target $530 Million in Tokenized Wall Street Assets
A proposed "Confidential Transfers" amendment in the latest XRP Ledger software release would allow institutions to encrypt token balances and payment amounts while preserving visibility of accounts and token types — a feature designed to attract institutional capital to the growing tokenized real-world asset market on XRPL.
Confidential Transfers: Privacy Built for Institutional Finance
XRPL version 3.3.0, released this week, includes six proposed amendments. The flagship proposal, "Confidential Transfers," is aimed squarely at institutional users. It would encrypt balances and payment amounts on Multi-Purpose Tokens (MPTs), the token format Ripple has been promoting for funds, bonds, and other financial instruments.
The design enables an institution to move tokens without publicly disclosing the size of each position or transfer. While accounts and token types remain visible, individual balances and payment amounts can be encrypted. The ledger retains the ability to verify that amounts reconcile without reading the underlying numbers, using a cryptographic method that proves transaction validity without exposing the figures involved.
On public blockchains, transaction transparency has long been a barrier for institutional participants in finance, where exposing position sizes, counterparty flows, or fund subscription and redemption activity can reveal sensitive strategy information to competitors. The approach outlined in this amendment addresses that concern by restricting disclosure at the balance and transfer level — the data most likely to be commercially sensitive — while keeping the ledger's auditability intact.
In its first version, Confidential Transfers is deliberately narrow. Holders must opt into the encrypted format, and it currently supports only direct MPT payments between accounts. The feature does not extend to trades on XRPL's built-in exchange, escrows, or checks.
Growing RWA Ecosystem on XRPL
The feature arrives amid significant growth in tokenized real-world assets on the XRP Ledger. According to onchain data aggregator RWA.xyz, approximately $1.38 billion in distributed real-world assets is already issued on XRPL. The breakdown includes:
- RLUSD: $845.7 million
- Ondo: $212.6 million
- VERT Capital: $116.1 million
- Archax: $55.4 million
- Societe Generale: $11.6 million
This leaves more than $530 million in tracked tokenized assets outside RLUSD, though the market remains concentrated among a handful of issuers.
Tokenization of real-world assets — representing instruments such as treasury bills, money fund shares, and private credit as blockchain tokens — has expanded across multiple networks over the past two years, with major asset managers including BlackRock and Franklin Templeton launching tokenized funds on other chains. XRPL's growing issuer roster, spanning Ondo, Archax, and Societe Generale, positions the ledger as one of several venues competing for institutional issuance.
Ripple has spent much of 2026 advancing XRPL's position in tokenized finance. In July, Aviva Investors launched a tokenized share class of its U.S. Dollar Liquidity Fund on the ledger, following a project announcement with Ripple in February.
Five Additional Institutional Amendments
The remaining five proposed amendments in version 3.3.0 target the same institutional audience:
- Batch: Packages as many as eight transactions together, including an all-or-nothing mode where every step must succeed or none execute.
- Sponsor: Allows one account to cover another's fees and reserve requirements, eliminating the need for new users to hold XRP before transacting.
- Permission Delegation: Enables an account to authorize a third party to submit only specified transaction types — for example, granting a fund administrator limited authority without relinquishing full control.
- Dynamic MPT: Permits issuers to modify certain token properties after issuance.
These amendments collectively address operational frictions that have historically made institutional adoption of public blockchains cumbersome. The Sponsor amendment, in particular, removes a recurring onboarding hurdle: requiring new institutional participants to acquire and hold the native token before they can transact, a step that adds treasury and compliance overhead for regulated entities.
Technical Improvements and Activation Process
Version 3.3.0 also bundles a set of bug fixes. According to XRP Ledger Operations, the release reduces memory usage by at least 10% to 15% and improves the speed at which nodes synchronize with the network.
None of the proposed amendments are live yet. Under XRPL governance rules, amendments require at least 80% support from trusted validators, held continuously for two weeks, before activation.
Confidential Transfers must now clear that threshold. The subsequent question is whether institutions already issuing assets on XRPL — such as Aviva, Ondo, or others — will choose to encrypt balances and transfer sizes rather than keep them publicly visible.