Ripple partners with Archax to tokenize £3.8B Abrdn liquidity fund on XRP Ledger
Hey there! Exciting news in the world of cryptocurrency—Ripple Labs is teaming up with Archax to bring tokenized funds to the XRP Ledger. This partnership will provide access to Abrdn’s £3.8 billion Liquidity Fund on the XRP Ledger, a first of its kind!
By tokenizing this fund on the XRP Ledger, Ripple is making a big move in the world of Real-World Asset tokenization and institutional DeFi. This step not only reduces operational costs but also boosts settlement efficiency in the capital markets infrastructure.
According to Ripple, the tokenized asset market is expected to hit $16 trillion by 2030. That’s a huge market demand! Ripple is even investing $5 million in tokens linked to Abrdn’s Lux fund, showing their commitment to this industry.
This partnership is a game-changer for the XRPL, positioning it as a major player in tokenization of real-world assets. More investors are now looking to keep their tokenized money market fund units on the XRPL due to its native capabilities like tokenization, trading, and escrow.
This collaboration is not new—Archax has been using Ripple’s digital asset custody solutions since 2022. And previously, they worked together to launch over $100 million in tokenized assets on the XRPL.
Exciting times ahead for XRPL and XRP! The price of XRP has already shown a strong 2.8% jump in the past 24 hours. So, stay tuned for more updates on this partnership and the growth of XRP!
