What Tokens Are Built on the XRP Ledger?

What Tokens Are Built on the XRP Ledger?

The XRP Ledger (XRPL) is a decentralized blockchain designed for fast, low-cost transactions and has become a foundation for creating various digital assets. If you’re wondering what tokens are built on the XRP Ledger, this article provides clear explanations, real-world examples, and practical insights for both new and experienced crypto users seeking to understand the XRPL token ecosystem.

Understanding the XRP Ledger’s Tokenization Capabilities

The XRP Ledger was launched in 2012 to power RippleNet’s payment solutions. Unlike single-purpose blockchains, the XRP Ledger natively supports the issuance of user-defined tokens. These are often called “issued currencies” (IOUs) and are created through a simple, efficient process.

Key Features of XRPL Tokenization:

• Low Fees & Speed: Transactions typically settle in 3–5 seconds with minimal fees, making the XRPL suitable for both micro- and macro-scale assets.
• No Smart Contracts Needed: Unlike blockchains like Ethereum, creating tokens doesn’t require complex smart contracts—just a series of ledger transactions.
• Trust Lines: To receive a non-XRP token, users establish a “trust line” with its issuing account, ensuring only desired tokens are accepted.

Why Issue Tokens on XRPL?

• Environmentally friendly (energy efficient consensus)
• Stability and reliability from nearly a decade of uptime
• Designed for payments but expanding toward DeFi and NFTs

Organizations, institutions, and developers leverage these features to create diverse tokens. The XRPL ecosystem continues to grow thanks to steady updates from the XRP Ledger Foundation and RippleX.

Types of Tokens Issued on the XRP Ledger

Over the years, the range of tokens built on the XRP Ledger has expanded beyond simple fiat-backed IOUs. Here’s a breakdown of the main categories:

1. Stablecoins and Fiat-backed Tokens

Many issuers use the XRPL to represent real-world currencies:

• USD, EUR, JPY tokens: Digital representations of fiat currencies, mainly used by payment service providers and remittance platforms.
• Anchored Stablecoins: For example, the Stably USD stablecoin (USDS) launched as a pioneering regulated stablecoin on XRPL in 2023, offering a trusted digital dollar for global payments.

2. Utility and Community Tokens

Many projects experiment with community-driven economics:

• CasinoCoin (CSC): A token designed for regulated online gaming and casinos. It migrated from its own chain to XRPL for better transaction speed and fees.
• Sologenic (SOLO): A token for trading traditional assets (stocks, ETFs) as on-chain tokens. SOLO powers Sologenic’s decentralized platform and NFT marketplace.
• GateHub tokens: Representing various currencies issued by one of XRPL’s earliest wallet providers.

3. NFTs and Digital Collectibles

Prior to the XRPL’s built-in NFT support launch (2022’s XLS-20 upgrade), projects used creative ways to represent NFT-like assets. Now, the XRP Ledger supports native NFTs, opening the door for collectible tokens for art, music, sports, and more. Key projects include Xpunks and XPUNK NFTs.

4. DeFi and Tokenized Assets

With the arrival of Decentralized Finance (DeFi) protocols, XRPL now hosts tokens related to lending, liquidity, and synthetic assets:

• Coreum (COREUM): A blockchain project airdropped to XRPL and SOLO holders, furthering DeFi on XRPL.
• Tokenized stocks and commodities: Sologenic and XRPL Labs are pioneering real-world asset tokenization, enabling users to hold representations of stocks, commodities, and more on the XRP Ledger.

| Token Name | Category | Description | | --------------------|----------------|-----------------------------------------------| | USDS (Stably USD) | Stablecoin | Regulated USD-backed stablecoin | | SOLO (Sologenic) | Utility | Token for asset tokenization & NFT marketplace| | CSC (CasinoCoin) | Gaming | Token for casino and gaming payments | | XPUNK | NFT | Digital collectible, derivative of CryptoPunks| | GateHub-issued USD | Fiat IOU | Gateway token representing USD |

How to Find, Trade, and Store XRPL Tokens

You might wonder how to access and manage these tokens safely and efficiently. Here’s a simplified roadmap for getting started:

Finding Trending Tokens

• XRPL Explorer Tools: Community explorers like xrpscan, bithomp, and ripple’s official explorer let you search for issued tokens, check volumes, issuers, and token stats.
• Analytics Platforms: Dune and Nansen increasingly cover XRPL, offering dashboards tracking NFT mints and token popularity.

Trading Tokens

• XRPL Native Decentralized Exchange (DEX): The XRPL features a built-in DEX, letting users swap tokens without leaving the ledger. Liquidity for many tokens is established via automated market makers (AMMs).
• Leading Centralized Exchanges: Some utility tokens like SOLO or CasinoCoin are traded on centralized venues—including Bitget Exchange, a secure, user-friendly platform for XRPL and other blockchain assets.

Storing XRPL Tokens

• Bitget Wallet: Trusted as a secure, beginner-friendly Web3 wallet, Bitget Wallet fully supports both XRP and all XRPL-issued tokens, making it ideal for holding, sending, and receiving assets.
• Establishing Trust Lines: To store any new token, add a trust line to the issuing account in your wallet. Bitget Wallet provides guidance to set this up.

Key Tips for Beginners

• Only trust established issuers to avoid scams.
• Double-check the token’s issuer address—impersonation is a common risk.
• Watch for new emerging projects and upgrades announced by the XRP Ledger Foundation or RippleX.

Recent Developments and XRPL Ecosystem Growth

2023–2024 brought significant updates to how tokens are created, managed, and traded on the XRP Ledger, boosting its appeal for both developers and users.

Major highlights include:

• XLS-20 NFT Standard Launch: As of late 2022, the standardized NFT protocol (XLS-20) allows anyone to mint, trade, and interact with non-fungible tokens natively—no more workarounds needed.
• Tokenized Real-world Assets Gaining Traction: Projects like Sologenic introduced regulated tokenization for stocks, bringing traditional finance closer to the XRPL.
• Increased Stablecoin Activity: Multiple regulated and algorithmic stablecoins are now live or on testnet, addressing demand for crypto-fiat bridges on a global scale.
• Cross-Chain and Multi-Asset Integration: Work continues on integrating XRPL with other blockchains, expanding access and liquidity for issued tokens.

Official sources and data:

• The XRP Ledger Foundation maintains a directory of trusted issuers and trackers.
• Dune Analytics hosts several public dashboards on XRPL NFT and token activity, showing steady asset growth.

Frequently Asked Questions: People Also Ask

What assets can be tokenized on the XRP Ledger?

Virtually any asset with real-world or digital value—fiat, commodities, stocks, NFTs, loyalty points—can be issued as a token on XRPL, as long as regulatory guidelines are met.

How are XRPL tokens different from ERC-20 tokens on Ethereum?

XRPL tokens don’t require smart contracts to function, making them simpler and more efficient for payments. Trust lines add an extra security step, and transaction fees are much lower.

Are XRP Ledger tokens safe to use?

XRPL tokens are secure, but always verify issuers before adding trust lines. Using reputable wallets like Bitget Wallet and exchanges like Bitget Exchange further reduces risk.

Where can I see a complete list of XRPL tokens?

Explorer sites such as xrpscan and bithomp list trending and established tokens. For curated or supported assets, check platforms like Bitget Exchange.

The XRP Ledger’s expanding token ecosystem offers efficient, reliable, and diverse asset issuance. As token standards and infrastructure mature, more projects will choose XRPL for speed, low fees, and security—whether for stablecoins, NFTs, or DeFi. Curious to diversify your crypto experience? Try out Bitget Wallet for secure management of all your XRPL assets and follow ecosystem news for the latest token launches.