Flare founder Hugo Philion opined that the XRP Ledger (XRPL) could dominate RWA issuance, referring to the network’s global distribution channel. He also touched on Flare Network’s role in the XRP ecosystem, noting that it continues to provide access to DeFi for XRP holders.
Flare founder comments on why XRP Ledger dominates the token
during interview At the XRP Las Vegas conference, Philion opined that the network would be successful in issuing RWAs due to its distribution channel. It was announced that the network has better distribution in the United States, South Korea and Japan than any other network.
As such, the Flare founder believes this is likely to incentivize asset issuers seeking distribution to tokenize their products on the XRP Ledger rather than other networks. He made the remarks while highlighting the network’s growth in total RWA value.
XRPL currently ranks higher than others Upper layer networks 1same as Solana, in terms of total RWA value. RWA.xyz data shows that the total value of RWA on XRPL is currently around $3.6 billion, up over 70% in the last 30 days. Meanwhile, Solana’s total RWA currently stands at $2.5 billion.
It is also worth noting that US Treasury securities tokenized on the XRP Ledger have increased 8-fold over the past year, now totaling over $418 million. The trading volume of these token assets has also increased significantly this year, further highlighting the massive adoption the network is currently experiencing.
Meanwhile, the Flare founder also commented on the role of his network where XRPL will likely dominate RWA token assets. He stated that Flare will help provide more functionality to these asset issuers, possibly related to XRP DeFi.
About scaling XRP DeFi
Philion stated that Flare is the largest DeFi ecosystem for XRP and that they are expanding “slowly” because it takes time for markets to stabilize. He noted that they have to bring in stablecoins and include institutional investors who are willing to lend their stablecoins as part of the DeFi process.
The Flare founder added that security is also a priority as they have to ensure that the entire process is secure and “at a responsible scale.” He pointed out the shortage The DeFi ecosystem on Ethereum is currently facing due to… Exploitation of seaweed DAOand Why it was important to expand responsibly.
As part of the move to expand the scope of XRP DeFi, Philion also revealed that it has expanded into other ecosystems to provide liquidity for stablecoins, enabling users to borrow FXRP, which is XRP wrapped on the Flare network. He also stated that they plan to launch additional vaults in the near future to boost the XRP DeFi ecosystem.
