While Ripple’s native cryptocurrency XRP has attracted attention with its recent price increase, Ripple also announced the launch of the first tokenized money market fund on the XRP Ledger (XRPL).
Ripple has introduced the first tokenized money market fund on XRPL in collaboration with cryptocurrency exchange Archax and British asset manager Abrdn.
This fund will operate on the XRP Ledger (XRPL) blockchain and contribute to strengthening enterprise decentralized finance (DeFi) infrastructure through the tokenization of real-world assets (RWA).
Ripple has stated that the tokenized asset market is expected to reach $16 trillion by 2030.
At the same time, this fund aims to increase cost savings and provide efficiency in settlement processes by utilizing the capital markets infrastructure in XRPL.
“The arrival of Abrdn’s money market fund on XRPL demonstrates how tokenizing real-world assets is driving operational efficiency,” said Markus Infanger, Senior Vice President of RippleX. “This solidifies XRPL’s leadership in real-world asset tokenization.”
XRP has gained 5% in the last 24 hours and continues to trade at $1.44 at the time of writing.
