As Ripple continues its global expansion, news of a new partnership has arrived.
At this point, Ripple announced that it is collaborating with Archax, the first registered crypto exchange in the UK, to enable the XRP Ledger to become a leader in real-world asset (RWA) tokenization.
This partnership will focus on the tokenization of real-world assets (RWAs), with plans to bring significant capital of millions of dollars to XRP Ledger (XRPL) next year.
By enabling financial institutions to tokenize RWAs, Archax will leverage XRPL's infrastructure to increase the efficiency and market reach of these assets.
RippleX Senior Vice President Markus Infanger said the following about the partnership:
“Our industry is at the beginning of the next major adoption phase where blockchain technology will bring real benefit to financial markets at scale.
“Ripple is excited to see Archax's vision to drive the adoption of blockchain and digital asset technology among financial institutions come to life, while highlighting that XRPL is one of the leading blockchains for RWA tokenization.”
Ripple CEO Brad Garlinghouse said in a statement on the subject that financial institutions are actively tokenizing real-world assets on XRPL and other Layer-1 blockchains, and he expects this to increase exponentially in the future.
Very excited about this linkup with @Ripple and @ArchaxEx – financial institutions are increasingly tokenizing their RWAs on layer 1s like XRPL through regulated entities like Archax, and I only expect this to grow exponentially in the future. https://t.co/79K8INZrWH
— Brad Garlinghouse (@bgarlinghouse) June 13, 2024
*This is not investment advice.
