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- Ripple seeks SEC clarity on stablecoin collateral rules and tokenized asset records.
- Ripple wants qualifying payment stablecoins treated as low-risk broker-dealer collateral.
- Tokenized RWA growth hit nearly $33 billion, while DeFi collateral use stayed below 10%.
Ripple has asked the SEC’s Crypto Task Force to clarify how payment stablecoins and tokenized assets fit under broker-dealer rules. The company wants qualifying stablecoins treated as low-risk collateral and wants blockchain records recognized for tokenized asset ownership under law.
As per the report, the request targets capital treatment for payment stablecoins. According to reports, Ripple proposed a 0% haircut for stablecoins that meet regulatory standards and remain fully backed.
Ripple Pushes Low-Risk Stablecoin Collateral Rules
A haircut is a discount applied to collateral to reflect market risk. In traditional finance, volatile assets receive larger discounts as values can fall during stressed market conditions.
Ripple argued that payment stablecoins should not be grouped with riskier crypto assets. The company said qualifying stablecoins are designed to keep a stable value and support settlement and collateral activity.
The plan would bring well-regulated payment stablecoins closer to cash under broker-dealer capital rules. The move could provide companies with more transparency regarding regulated market operations, Ripple added.
The company also brought up an issue regarding tokenized assets. Ripple has requested regulators to provide clarity on whether on-chain blockchain records could be used as legal ownership registries.
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Most traditional financial systems still rely on central registrars and transfer agents for ownership tracking. The request is to regulators to determine whether blockchain ledgers can do that legal recordkeeping.
Institutional Tokenization Push Lifts RWA Market
The problem has become a topic of conversation as big financial institutions ramp up their tokenization efforts. Firms like BlackRock, JPMorgan, Franklin Templeton, Apollo, and KKR have ramped up their activities in tokenized real-world assets.
As of April 2026, the total value of the tokenized RWA market was approximately $27.7 billion. This was an approximate 300% increase over the previous year.
As of mid-May, data from RWA.xyz indicated that tokenized real-world assets totaled nearly $33.65 billion. The rise reflects greater institutional activity and is not indicative of a fully developed market.
According to a report from May 2026, less than 10% of the tokenized RWAs were being employed in DeFi as a collateral asset. That points to the fact that the majority of the market is still concerned with issuance, custody, and infrastructure.
Ripple’s filing joins a policy debate in Washington concerning digital asset regulations. The company is requesting more clarity as stablecoins and tokenized assets advance further toward regulated financial markets.
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