Tokens other than XRP

Anyone can issue a token on the XRP Ledger. A token is only as good as whoever issued it.

Every asset on the XRP Ledger other than XRP is a token. Fungible tokens are interchangeable, like coins of the same kind. Non-fungible tokens (NFTs) are each one of a kind.

Anyone can issue a token, for almost any purpose. A common kind is a stablecoin: the issuer holds money or other assets outside the ledger and issues tokens that stand for the same amount on it. A token like that depends on the issuer really holding what it says.

A token is identified by two things together: its code, a short name such as FOO, and its issuer's address. Two tokens with the same code from different issuers are completely different tokens.

The ledger has more than one way to make fungible tokens: the original trust line tokens, and newer Multi-Purpose Tokens (MPTs), designed to be simpler and more efficient.

Sources

Tokens (xrpl.org) (checked 2026-10-22)
Decentralized Exchange (xrpl.org) (checked 2026-10-22)
Automated Market Makers (xrpl.org) (checked 2026-10-22)

General information about how the XRP Ledger works, not financial, legal or tax advice.