According to BlockBeats news on November 26, Ripple announced the launch of the first tokenized money market fund on the XRP Ledger, with Ripple's XRP Ledger tokenizing abrdn's $4.77 billion liquidity fund.
Ripple has partnered with Archax, the UK's first regulated cryptocurrency exchange, broker, and custodian by the Financial Conduct Authority (FCA), allowing Archax to utilize abrdn's money market fund.
Ripple stated in a press release on November 25 that the tokenization of abrdn's $4.77 billion money market fund on the XRPL indicates that RWA is being transferred on-chain to achieve operational cost savings and increased settlement efficiency.
