While Ripple's native cryptocurrency XRP has attracted attention with its rise in recent days, Ripple announced the first tokenized money market fund in XRPL.
Accordingly, Ripple announced the first tokenized money market fund on XRP Ledger in partnership with cryptocurrency exchange Archax and British asset manager Abrdn.
The tokenized money market fund will be available on the XRP Ledger (XRPL) blockchain.
This fund will help build the leading blockchain for real-world asset (RWA) tokenization and enterprise decentralized finance (DeFi).
Ripple noted that the tokenized asset market is estimated to reach $16 trillion by 2030.
This fund also aims to increase cost savings and settlement efficiency through capital markets infrastructure on XRPL.
“The arrival of Abrdn’s money market fund on XRPL demonstrates how real-world assets are being tokenized to improve operational efficiency and further solidifies XRPL’s position as one of the leading blockchains for real-world asset tokenization,” said Markus Infanger, RippleX Senior Vice President.
XRP, which has gained 5% in the last 24 hours, continues to trade at $1.44 at the time of writing.
*This is not investment advice.