Archax Enables Access to abrdn Fund on XRP via Ripple
Archax, a digital asset exchange, broker, and custodian, has made headlines by giving investors access to a tokenized money market fund from UK asset manager abrdn on the XRP Ledger (XRPL), a decentralized blockchain. This fund is part of abrdn’s £3.8 billion US dollar Liquidity Fund (Lux) and is the first tokenized money market fund on the XRPL. This move solidifies the XRPL’s reputation as a top blockchain for real-world asset (RWA) tokenization and institutional decentralized finance (DeFi).
This achievement is the result of a partnership between Archax and Ripple, a company known for its enterprise blockchain and crypto solutions. Together, they are paving the way for cost savings and improved settlement processes in the capital markets by leveraging the XRPL.
Experts at McKinsey have already highlighted the benefits of tokenized money market funds, emphasizing their potential to revolutionize the way investors access and interact with funds in the digital age. This collaboration between Archax and Ripple is not only groundbreaking but also sets a precedent for future advancements in financial technology and blockchain integration.
