The XRP Ledger (XRPL) has experienced a significant surge in tokenized US Treasuries, with values increasing eightfold to approximately $418 million over the past year, according to Evernorth data. This growth highlights a shift in the issuance and transfer of traditional financial instruments on blockchain infrastructure. The on-chain transfer activity has also seen a remarkable increase, rising fivefold to about $352 million in 2026 year-to-date, compared to $70 million for the entire year of 2025. This trend underscores XRPL's evolving role from a payments network to a comprehensive financial infrastructure layer, facilitating the issuance, transfer, and settlement of real-world assets. The increased activity in tokenized US Treasuries reflects institutional market behavior, suggesting a deeper integration with traditional financial systems. The ongoing momentum will depend on regulatory developments, liquidity, and continued asset issuance.