- According to Ripple, the XRP Ledger now contains a tokenized money market fund.
- A collaboration with Archax, a digital asset exchange governed by the FCA, enabled the launch.
Ripple declared on Monday that a tokenized money market fund would be available on the XRP Ledger. According to a news statement from Ripple, the launch was made possible by a collaboration with Archax.
Archax, the first FCA-regulated digital asset exchange, broker, and custodian, has enabled access to a UK asset manager’s money market fund in tokenized form on the XRP Ledger.
The fund, which is part of ABRDN’s £3.8 billion US dollar Liquidity Fund (Lux) fund, is the first tokenized money market fund on the XRPL.
Leveraging the effectiveness of transferring the entire investment and payment settlement process onto the blockchain can yield significant advantages.
Markus Infanger, Senior Vice President of RippleX, went on to say that tokenizing physical assets will increase operational effectiveness and provide utility on a large scale.
According to some estimations, the entire value of tokenized assets may reach $16 trillion by 2030.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
