As a seasoned crypto investor with over a decade of experience under my belt, I find myself intrigued by the recent developments at Ripple Labs Inc. The partnership between Ripple and Archax, as discussed during the Ripple Swell Conference in Miami, is particularly noteworthy. It’s clear that Real World Assets (RWA) tokenization technology is gaining traction, and I believe it has the potential to revolutionize the way we interact with digital assets.
During the Ripple Swell Conference in Miami, James Wallis, Vice President of Global Finance Institutions at Ripple Labs Inc, engaged in a discussion with Graham Rodford from Archax. The focus of their talk revolved around the topic of tokenization and its expanded applications for various digital assets.
Real World Assets Tokenization Technology Will Benefit All
Wallis inquired about Rodford’s views on the Real World Assets (RWA) tokenization tech. In reply, Archax CEO and co-founder Rodford expressed his optimism towards this technology. He pointed out that he sees great potential for every asset to be moved onto a blockchain, given the rapid pace of tokenization adoption.
Rodford believes that the technology benefits every participant, from the issuer to the infrastructure and investor. Hence, many companies and projects are looking to align with the technology. Even the initial collaboration between Ripple and Archax hinged on the prospects of tokenizing real-world assets on the XRP Ledger (XRPL).
As a researcher, I’d rephrase Markus Infanger’s statement like this: “I, as Markus Infanger at RippleX, am thrilled to witness Archax’s ambition of promoting blockchain and digital asset technology among financial institutions materialize. This development serves to reinforce the XRPL’s standing as a leading blockchain for Real-World Asset tokenization.
At the XRP Ledger APEX 2024 conference in Amsterdam from June 11-13, the blockchain payments company revealed their new partnership. This partnership was announced during this event, and it builds upon Ripple’s existing alliance with Metaco, which started in 2022, providing digital asset custody services. This collaboration has further solidified its bond with Archax.
While the focus of the Ripple community now lies primarily on the RLUSD stablecoin, the discussion about tokenization at the Swell conference may hint towards a future development. Simultaneously, this indicates that the company is also dedicating efforts to other advancements and enhancements within the ecosystem.
Ripple Names Exchange Partners as RLUSD Launch Draws Close
Regarding RLUSD, the official debut is approaching rapidly. Currently, it’s being privately tested on XRPL and the Ethereum mainnet during its beta phase. A significant number of stablecoins have been moved into inactive wallets thus far. In August, Ripple Labs initiated the minting of this stablecoin on both the XRPL and Ethereum mainnet in small quantities. Over time, larger amounts have been produced, with a single mint recording 10 million units of RLUSD.
When this USD-pegged stablecoin debuts, it could potentially shake up the market that’s currently dominated by USDT and USDC, who collectively hold nearly 90% of the total value. Notably, PayPal Holdings Inc (NASDAQ: PYPL) introduced their PYUSD stablecoin earlier but hasn’t garnered significant popularity yet. However, Ripple CEO Brad Garlinghouse doesn’t anticipate RLUSD encountering similar difficulties.
Garlinghouse stated that our payment methods are planning to use Ripple’s native currency (RLUSD), XRP, and various other digital assets to facilitate quicker, more dependable, and less expensive international transactions.
Ripple plans to facilitate the use of its stablecoin via platforms such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish for easier access.
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2024-10-16 17:12