 ▲ XRP |
Ripple has set a new milestone in the tokenized real-world asset market by partnering with a major UK asset manager to bring a multi-billion-dollar fund into the blockchain ecosystem.
According to crypto media outlet The Crypto Basic on Feb. 11 (local time), Ripple has expanded its partnership with digital asset exchange Archax to launch a tokenized version of abrdn’s money market fund on the XRP Ledger. The collaboration centers on bringing abrdn’s approximately $3.8 billion U.S. Dollar Liquidity Fund onto the XRP Ledger blockchain network. This will mark the first tokenized money market fund implemented on the XRP Ledger.
To reinforce its leadership in the real-world asset tokenization sector, Ripple has directly invested $5 million in the fund. Archax, a Financial Conduct Authority (FCA)-regulated digital asset exchange and custodian in the UK, will serve as the technical engine converting abrdn’s assets into digital tokens. Institutional investors will be able to purchase tokenized shares of abrdn’s fund directly through Archax, benefiting from the XRP Ledger’s fast settlement capabilities and operational efficiency.
Markus Infanger, Senior Vice President at Ripple, emphasized that this achievement demonstrates the XRP Ledger’s suitability as a platform for institutional-grade financial services. “The addition of abrdn’s money market fund to the XRP Ledger showcases how real-world assets can maximize operational efficiency on blockchain,” Infanger said. Ripple plans to continue building an environment in which financial institutions can securely tokenize and exchange assets using its custody solutions.
The financial industry projects that the global value of tokenized assets could reach $16 trillion by 2030. To capture this massive market opportunity, Ripple intends to bring hundreds of millions of dollars in additional real-world assets onto the XRP Ledger through its collaboration with Archax. The tokenization of abrdn’s fund is seen as a strategic move to migrate traditional capital market infrastructure on-chain, reducing transaction costs and streamlining settlement processes.
The joint project by Ripple, abrdn, and Archax demonstrates that digital asset technology is entering a stage where it integrates with real financial infrastructure to generate tangible value. The large-scale digitalization of assets based on the proven stability and scalability of the XRP Ledger is expected to accelerate the digital transformation of the global asset management industry.
Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.