Evernorth CEO Asheesh Birla recently outlined how financial markets are steadily moving on-chain and why $XRP is emerging as a key bridge asset in that transition.
Speaking on the GSR podcast with Frank Chaparro, Birla argued that $XRP could play a significant role in the rapidly expanding tokenized asset market.
Why $XRP Stands Out
During the interview, Birla highlighted $XRP’s ability to move tokenized value efficiently and pointed to the $XRP Ledger’s built-in exchange functionality. However, he stressed that $XRP’s competitive edge extends beyond its technical capabilities.
According to Birla, Ripple’s years of regulatory licensing efforts and deep relationships with banks have created a foundation that few blockchain networks can replicate. As a result, $XRP and the $XRP Ledger occupy a unique position as financial institutions continue to explore tokenized assets and on-chain settlement solutions.
Birla Anticipates Growth in RWA Sector
At the same time, Birla pointed to the rapid growth of tokenized real-world assets. He noted that the sector has expanded from virtually nothing two years ago to tens of billions of dollars today.
Nonetheless, he emphasized that the market remains in its infancy compared to traditional financial markets, which are measured in trillions of dollars. Consequently, he believes the sector still has substantial room to grow as more real-world assets migrate onto blockchain networks.
$XRP Needs More Institutional Use Cases
Notably, several firms, including Evernorth and VivoPower, have already adopted $XRP as a reserve asset. However, Birla argued that simply holding $XRP will not drive long-term growth.
Instead, he believes institutions need regulated and compliant products that create practical utility for digital assets. To achieve this, industry participants must develop real-world applications that meet regulatory requirements, privacy standards, and institutional risk controls.
According to Birla, expanding these use cases would boost demand for blockchain-based financial services while creating new opportunities for $XRP within the broader financial ecosystem.
He also identified liquidity as a critical component of the on-chain economy. In his view, tokenized assets must be actively used in lending, trading, and capital deployment markets for blockchain-based finance to function efficiently.
$XRP Ledger’s Growing Presence in the RWA Market
Meanwhile, the tokenized real-world asset sector continues to expand rapidly. The market currently boasts a represented asset value of approximately $342 billion, while distributed asset value stands at $31.96 billion, according to rwa.xyz.
Within this landscape, the $XRP Ledger ranks third by represented asset value, with approximately $3.7 billion in assets represented on the network. However, it ranks tenth in the Distributed RWA League Table, with about $368 million in distributed asset value.
Notably, Evernorth has consistently highlighted XRPL’s progress in the RWA sector. The firm has previously pointed out that the network reached a $400 million valuation in tokenized assets faster than Ethereum, underscoring its growing presence in the emerging tokenized finance market.
