Ripple and Archax have strengthened their collaboration to tokenize and list several hundred million dollars worth of real-world assets (RWAs) on the XRPL within the next year. This strategic move aims to establish XRPL as the preferred blockchain for transitioning traditional assets into the digital realm.
The announcement was made at #XRPLApex! Ripple and @ArchaxEx are expanding their partnership to introduce hundreds of millions of dollars in tokenized RWAs to the XRP Ledger over the next year. This development further cements the #XRPL as a prominent blockchain for RWA tokenization.
Archax has joined forces with major financial institutions to facilitate the tokenization of their assets on the XRPL. Through this collaboration, these institutions now have the freedom to leverage the XRPL for their tokenization needs.
The partnership between Ripple and Archax commenced in 2022, with Archax initially providing digital asset custody services in conjunction with Metaco. This initial cooperation has blossomed, leading to Ripple’s complete acquisition of Metaco in 2023.
Markus Infanger, SVP of RippleX, expressed that while Ripple has worked with various similar entities in the industry, this partnership signifies a significant advancement towards implementing blockchain in financial markets. Archax is at the forefront of this movement, and Infanger is excited to witness their impact on blockchain adoption within financial institutions.
The collaboration between XRPL and Archax underscores their commitment to adhering to regulatory standards in the blockchain space. As the sole FCA-regulated digital securities exchange, Archax is well-equipped to offer its customers the benefits of decentralized finance (DeFi) through tokenization, further enhanced by XRPL’s capabilities.
This groundbreaking partnership was revealed at the XRP Ledger APEX 2024 summit held in Amsterdam from 11-13 June, marking a pivotal moment in the convergence of blockchain and the financial sector.
Tags: Ripple, XRP