In an exciting development, Ripple and Archax are deepening their collaboration to tokenize and list several hundred million dollars of real-world assets on the XRPL in the upcoming year. This move is set to establish XRPL as the preferred blockchain for bringing traditional assets into the digital realm.
The announcement was made at #XRPLApex, showcasing the expansion of the partnership between Ripple and @ArchaxEx. The aim is to tokenize a significant amount of real-world assets on the XRP Ledger, solidifying the XRPL’s position as a top blockchain for real-world asset tokenization.
Archax has joined forces with prominent financial institutions to facilitate the tokenization of their assets on XRPL. This collaboration allows these institutions to utilize the XRPL for their tokenization needs.
The partnership between Ripple and Archax began in 2022, with Archax initially providing digital asset custody services in conjunction with Metaco. This partnership led to Ripple acquiring Metaco in 2023, further strengthening their bond.
Markus Infanger, SVP of RippleX, expressed excitement about this partnership, describing it as a significant milestone in bringing blockchain technology to the financial market. He commended Archax for leading the way and driving blockchain adoption in financial institutions.
Both Archax and Ripple prioritize regulatory compliance and work closely with regulators to meet industry standards. As the only FCA-regulated digital securities exchange, Archax is well-equipped to offer customers the benefits of DeFi through tokenization on XRPL.
The partnership was unveiled at the XRP Ledger APEX 2024 summit held in Amsterdam from 11-13 June, marking a promising collaboration between the blockchain and financial sectors.