Ripple has invested in ZILO and Licuido, two infrastructure firms focused on tokenized capital markets, as part of a broader expansion strategy on its XRP Ledger network, according to a post on X on August 3.
Neither Ripple nor the investees disclosed specific investment amounts. The two companies operate in adjacent segments of the emerging tokenized securities market: ZILO provides infrastructure for tokenized fundraising and asset issuance, while Licuido builds settlement and liquidity solutions for digital securities.
Ripple has spent the past two years cultivating a developer ecosystem around XRP Ledger's tokenization capabilities. The company released a dedicated tokenization framework in 2024 and has backed other infrastructure builders in the space, including Archax, a tokenized asset exchange, and Paxos, which processes on-chain settlements for institutional clients. The current investments fit within that pattern of funding companies that build market rails around the ledger itself rather than native XRP Ledger applications.
Tokenized capital markets infrastructure remains nascent. Regulatory frameworks for digital securities differ across jurisdictions, and primary market adoption has been limited to isolated pilots by large financial institutions. Large financial institutions have conducted pilots, though no timeline or scale threshold has been set by any party involved.
Both ZILO and Licuido have separately raised funding from other sources. ZILO announced seed funding in 2025; Licuido closed a funding round earlier in 2026. The exact sizes of Ripple's checks into each firm remain undisclosed.
Ripple's tokenization bets are part of three major initiatives the company is pursuing alongside its core payment network business and its XRP holdings strategy. If Ripple continues to back infrastructure firms at the current pace, it will have invested in at least six separate tokenization or settlement platforms since 2024.
The specific terms and deployment timelines for both investments will clarify whether Ripple is committing to long-term R&D partnerships or shorter-term pilot relationships with each firm.
