According to U.Today, Ripple CEO Brad Garlinghouse has expressed enthusiasm over the company's expanded partnership with digital asset exchange, broker, and custodian Archax. This collaboration is a significant advancement in financial technology, particularly in the area of asset tokenization. During the recent XRP Ledger Apex 2024 event, it was revealed that Ripple and Archax plan to bring hundreds of millions of dollars in tokenized real-world assets (RWAs) to the XRP Ledger within the next year. This move is anticipated to position XRPL as a leading blockchain for RWA tokenization.

The latest agreement signifies an expansion of Ripple's collaboration with Archax, which started in 2022 when Archax teamed up with Metaco to offer digital asset custody services to its clients. Ripple acquired Metaco in mid-2023. Garlinghouse noted the increasing trend among financial institutions to tokenize their RWAs on blockchain platforms like the XRP Ledger. This trend is gradually transforming asset management.

Archax collaborates with top financial institutions to facilitate the tokenization of RWAs. With this expanded partnership, these institutions may be able to use the XRPL to tokenize their assets. Garlinghouse is optimistic about this trend, predicting that the tokenization of RWAs will not only continue but will grow exponentially in the future. This growth is expected to be fueled by the inherent advantages of blockchain technology and increasing demand.

The XRPL is an open-source public decentralized layer-1 blockchain. Over the past decade, it has hosted over 1,000 projects, processed more than 2.8 billion transactions without failure or a security breach since 2012, and supported over five million active wallets with a network of over 120 validators.