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<ul class="wp-block-list">
 <li>Ripple, Archax, and abrdn unveil the first tokenized money market fund on the XRP Ledger, enhancing blockchain utility in finance.</li>  
 <li>XRP price climbs 6% following the launch of the XRPL's first tokenized money market fund, signaling strong market interest.</li>  
 <li>Ripple projects the global tokenized assets market to reach $16 trillion by 2030, driving efficiencies in capital markets.</li> 
</ul>  
<p>Ripple has revealed the first tokenized money market fund partner with the FCA-regulated cryptocurrency exchange Archax and UK fund manager abrdn. The partnership will introduce abrdn’s $3.8bn US Dollar Liquidity Fund (Lux) in a tokenized form on the XRP Ledger (XRPL). This is a major advancement in applying blockchain for the tokenization of Real World Asset (RWA).</p>  
<h2 class="wp-block-heading" id="h-tokenized-money-market-fund-on-xrpl"><strong>Tokenized Money Market Fund on XRPL</strong></h2>  
<p>This fund was launched through a Ripple <a href="https://ripple.com/ripple-press/archax-provides-access-to-abrdn-money-market-fund-on-the-xrp-ledger-in-collaboration-with-ripple/" target="_blank" rel="noopener noreferrer nofollow">press release</a> and aims to bring blockchain technology into traditional capital markets. Tokenized money market funds also allow institutional investors to invest at low risks, offering liquidity and stability. Through tokenization, the ownership of assets is converted into a digital token, making it easier to trade in blockchain platforms.</p>  
<p>Ripple also pointed out that founding the RWAs on the XRPL makes it possible to eliminate intermediaries. Additionally will reduce transaction costs, and accelerate the sequencing of processes. The fund also highlights Ripple’s goal to establish XRPL as a leader in institutional <a href="https://cryptonewsland.com/xrpl-price-oracle-launch-enhances-institutional-defi-capabilities-on-xrp-ledger/" target="_blank" rel="noopener noreferrer nofollow">decentralized finance (DeFi) </a>and real-world asset tokenization.</p>  
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  https://twitter.com/Ripple/status/1860995969375990069
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<p>The experts’ forecast reveals that the total market for tokenized assets can reach $16 trillion by 2030. Ripple pointed out that this advancement presents a significant step towards realizing cost efficiencies and better settlement in the financial markets.</p>  
<h2 class="wp-block-heading" id="h-partnership-expands-rwa-offerings"><strong>Partnership Expands RWA Offerings</strong></h2>  
<p>Archax has been closely involved in tokenized securities in the past. Moreover it has been instrumental in the entry of abrdn’s money market fund to <a href="https://cryptonewsland.com/?s=XRPL" target="_blank" rel="noopener noreferrer nofollow">XRPL</a>. This year, in March, Archax partnered with Ripple to introduce tokenized RWAs to the XRP Ledger. These plans entailed massive investments in assets under management across many managers. Ripple disclosed an initial $5 million allocation into tokens within abrdn’s Lux fund, to enhance blockchain-based RWA offerings.</p>  
<p>Ripple’s Senior Vice President of RippleX, Markus Infanger, <a href="https://x.com/markusinfanger/status/1861001988164448737" target="_blank" rel="noopener noreferrer nofollow">stated</a> that this partnership reinforces XRPL’s position as a leading blockchain for tokenized real-world assets. Furthermore, tokenized fund will complement Archax's existing RWA portfolio, which includes products from State Street, Fidelity International, and Legal &amp; General Investment Management.</p>  
<p>The announcement received the market's approval, as the XRP price surged 6% in value within the last 24 hours. XRP is currently at $1.47; its highest was $1.54. The daily trade volume is $12.5 billion, indicating that more traders are investing in it. Additionally, XRP's future open interest reached an all-time high of $2.6 billion, driven by significant purchases from large-scale investors over the weekend.</p> 
<p>The post <a href="https://cryptonewsland.com/ripple-partners-with-archax-to-launch-first-tokenized-money-market-fund-on-xrp-ledger/" rel="noopener noreferrer nofollow">Ripple Partners With Archax to launch first tokenized money market fund on XRP Ledger</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple Partners With Archax to launch first tokenized money market fund on XRP Ledger

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