XRP Ledger tokenization is moving deeper into commodity markets, with active projects now spanning energy, diamonds, carbon credits, precious metals and an emerging agriculture pipeline. According to a recent post by X Finance Bull, energy assets on XRPL currently represent about $2.229 billion, while certified diamond tokens exceed $280 million.
YPF Luz and Justoken are linked to electricity tokenization through Enertoken and JMWH. Billiton Diamond, Ctrl Alt and Ripple are tied to certified polished diamonds. Xange and Thallo are building carbon credit tokenization and marketplace infrastructure focused on verification, liquidity and traceability.
Meld Gold is preparing GOLD$ and SILVER$ for the ledger; each proposed token would represent one gram of underlying metal. The Multi-Purpose Token framework is cited as a technical route for classifying physical commodities including gold, silver and oil. Agriculture remains a potential pipeline, with Justoken sharing technology lineage with Agrotoken, which previously tokenized soybeans, corn and wheat as SOYA, CORA and WHEA. Bunge is using Justoken infrastructure for soy and soymeal traceability.
Separately, the UK Financial Conduct Authority is reportedly reviewing the tokenization of gold. The FT reports the review includes how tokenized gold could be used as collateral in wholesale markets. Although the FCA does not regulate physical gold, it oversees gold-based derivatives and exchange-traded products. London accounts for around 70% of global gold trading, with daily OTC bullion turnover estimated at $60 billion. Tokenization could help London strengthen its position against New York, Switzerland, China and Singapore in digital asset-based gold markets.
Regulatory developments remain separate from the XRPL commodity projects; X Finance Bull noted the CLARITY Act had not passed that month, while maintaining conviction in XRP, XLM and HBAR.
