bullish

2024

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<p dir="ltr"><a href="https://u.today/xrp-ledger-xrpl-hits-major-burn-milestone-details" rel="noopener noreferrer nofollow">XRP Ledger</a> (XRPL) has launched the first tokenized money market fund. According to an <a href="https://x.com/Ripple/status/1860995969375990069" rel="noopener noreferrer nofollow">announcement</a> on the Ripple X handle, XRPL achieved it in collaboration with two other entities. Ripple Labs, which partnered with Archax, a digital securities exchange, and ABRDN, a global investment company.</p>
<h2 id="xrpl-unlocks-blockchain-s-role-in-capital-markets">XRPL unlocks blockchain’s role in capital markets</h2>
<p dir="ltr">This significant development will see the deployment of capital markets infrastructure on the XRP Ledger. Archax is unveiling ABRDN’s $3.8 billion <a href="https://u.today/ripple-to-welcome-new-tokenized-funds-details" rel="noopener noreferrer nofollow">money market</a> on XRPL. Ripple is projecting that by 2030, tokenized assets could reach a value of about $16 trillion. The partnership and launch, therefore, unlock savings and settlement efficiencies on the XRP Ledger.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">Today, in partnership with <a href="https://twitter.com/ArchaxEx?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ArchaxEx</a> and <a href="https://twitter.com/abrdn_plc?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@abrdn_plc</a>, we’re excited to announce the first tokenized money market fund on the XRP Ledger.With $16T in tokenized assets projected by 2030, this milestone unlocks cost savings and settlement efficiencies by deploying capital markets…</p>— Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1860995969375990069?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 25, 2024</a>
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<p dir="ltr">Primarily, money market funds provide investors with traditionally low-risk investments with liquidity and stability offerings. The ownership gets converted into digital tokens for trading on a blockchain by tokenizing them. This includes tokenized real estate, bonds, stocks and much more.</p>
<p dir="ltr">Ripple demonstrates the blockchain’s potential to host and facilitate this massive wave of asset digitization. Additionally, deploying the money market fund on the XRPL will eliminate intermediaries and the cost implications. It will also speed up transactions and reduce costs compared to the traditional capital market system.</p>
<p dir="ltr">Ripple aims to integrate blockchain into capital markets by leveraging the XRP Ledger. This would be done by offering real-time settlement, increasing liquidity and paving the way for other financial products on the XRP Ledger. This would give the XRP Ledger utility and justify the <a href="https://u.today/xrpl-four-big-updates-set-to-transform-xrp-ledger" rel="noopener noreferrer nofollow">new updates</a>.</p>
<h2 id="market-impact-and-xrp-s-price-performance">Market impact and XRP's price performance</h2>
<p dir="ltr">Market experts consider this a bullish move, as it cements XRP Ledger as the leader in real-world-asset (RWA) tokenization. This could significantly impact XRP, which has remained above $1 over the past week.</p>
<p dir="ltr">As of this writing, XRP has risen by 5.8% to <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">exchange</a> hands for $1.47 in the last 24 hours. Market volume has also shifted by 14.22% to $12.50 billion as investors remain confident in the asset.</p> <a href="https://u.today/xrp-ledger-xrpl-hosts-first-ripple-backed-tokenized-fund" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

XRP Ledger (XRPL) Hosts First Ripple-Backed Tokenized Fund

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