Ripple launches the first tokenized money market fund on the XRP Ledger

Ripple has just launched the first tokenized money market fund on the XRP Ledger, with a US dollar liquidity fund valued at $4.77 billion managed by asset management company abrdn. This launch is accomplished through a partnership with Archax, the first regulated exchange in the UK, allowing professional investors access to this fund. The tokenization of this fund on the XRP Ledger aims to reduce costs and improve payment efficiency in the financial sector. Ripple also announced it will invest $5 million in this fund as part of its strategy to expand the market for real-world assets (RWA), which is expected to reach $16 trillion by 2030[1][2]. The total assets in tokenized cryptocurrency money market funds currently exceed $1 billion, with BlackRock leading in scale[2]. The CEO of Archax emphasized the growing trend of tokenizing real assets and sees this as a strong driver in the near future[3].