Ripple Boosts Tokenized Finance with Launch of First Money Market Fund on XRP Ledger, Redefining Efficiency in Real-World Asset Tokenization and Institutional DeFi
Ripple Opens New Era of Tokenized Funds on XRP Ledger
Ripple announced on Monday that Archax, a digital asset exchange regulated by the UK Financial Conduct Authority (FCA), has facilitated access to a tokenized money market fund managed by UK asset manager Abrdn on the XRP Ledger (XRPL). Ripple explained:
The fund forms part of Abrdn’s £3.8 billion USD Liquidity Fund (Lux) and represents the first tokenized money market fund on the XRPL.
The development signals the XRPL’s growing role as a leading platform for real-world asset tokenization (RWA) and institutional decentralized finance (defi), Ripple noted. “This milestone is the result of ongoing collaboration between Archax and Ripple, a leader in blockchain and crypto solutions for institutions,” the company explained. “It represents a significant step toward achieving operational cost savings and settlement efficiencies by deploying capital markets infrastructure on the XRPL.”
“The arrival of the Abrdn Money Market Fund on the XRPL demonstrates how tokenizing real-world assets can drive operational efficiencies, while also cementing the XRPL as one of the leading blockchains for tokenizing real-world assets. There is no doubt that the on-chain economy is gaining momentum,” said Markus Infanger, Senior Vice President of Ripplex. Ripplex is a division of Ripple focused on building and supporting blockchain infrastructure and applications to accelerate blockchain adoption.
This cooperation represents an important step in modernizing the financial infrastructure. Announcement details:
Ripple will allocate $5 million in tokens to Abrdn’s Lux Fund. Ripple’s allocations are part of a larger fund that Ripple will allocate to real-world assets (RWAs) on the XRPL provided by a group of asset managers.
Institutional buyers can now purchase Abrdn Lux in tokenized form directly via the Archax platform, reflecting the growing demand for blockchain-based financial solutions.
