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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jun 13, 2024 13:05 UTC
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Ripple & Archax Partner Up! Millions in RWAs to Hit XRPL
Ripple and Archax team up to tokenize hundreds of millions in real-world assets on XRPL.
Archax helps financial institutions tokenize their assets and use XRPL.
XRPL is a secure and reliable blockchain designed for institutional use.
Ripple has announced an expanded partnership with Archax, the UK’s first Financial Conduct Authority-regulated digital asset exchange. This collaboration aims to bring hundreds of millions of dollars worth of tokenized real-world assets (RWAs) onto the XRP Ledger (XRPL) over the next year, establishing XRPL as a leading blockchain for RWA tokenization.
Major Announcement at XRP Ledger APEX 2024
The partnership was unveiled at XRP Ledger APEX 2024, held from June 11-13 in Amsterdam. This collaboration is expected to significantly influence the future of asset tokenization on the XRPL.
Archax works with top financial institutions to tokenize their RWAs. Through this partnership, these institutions can now use XRPL for tokenizing their assets, creating various new opportunities. This agreement marks a significant development in the Ripple-Archax relationship, which started in 2022 when Archax collaborated with Metaco for digital asset custody services. Ripple’s acquisition of Metaco in mid-2023 further strengthened this partnership.
Why XRPL?
The XRPL is an open-source, decentralized Layer 1 blockchain with built-in tokenization features, a native decentralized exchange, and compliance capabilities. It is designed to support high-level financial applications. XRPL’s advanced infrastructure includes an Automated Market Maker (AMM), upcoming features like Decentralized Identifier (DID), Multi-Purpose Tokens (MPT) capability, a Lending Protocol, and Oracles.
Features to Know
Over the past decade, XRPL has hosted over 1,000 projects and processed more than 1.8 billion transactions without failures or security breaches. It supports over 5 million active wallets and has a network of more than 120 validators. This strong track record makes it an ideal platform for RWA tokenization and institutional-grade decentralized finance (DeFi).
Ripple’s partnership with Archax is poised to transform the tokenization of real-world assets, utilizing XRPL’s advanced features and proven reliability. This collaboration promises to open new doors for financial institutions, positioning XRPL as a key player in the future of asset tokenization.
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