Ripple Partners Axelar to Boost Real-World Asset (RWA) Tokenization on XRP Ledger

Ripple partnered with the Axelar Foundation to boost interoperability within the XRP Ledger (XRPL) blockchain, with a specific emphasis on advancing the tokenization of real-world assets (RWAs).

The integration of the Axelar network with the XRPL aims to strengthen the layer 1’s DeFi ecosystem by providing necessary liquidity for stablecoins and high-value assets. Meanwhile, the developers will benefit from leveraging the XRPL’s inherent features, such as its native DEX, upcoming AMM, and renowned payment system known for its security and efficiency.

Focus on RWA

“Tokenization,” especially of “real-world assets” (RWAs), has emerged as a major trend in the crypto industry, witnessing a considerable uptake in recent years, drawing interest from both individual users and major institutional players.

In a bid to leverage this trend, the Axelar Foundation seeks to expand the adoption of blockchain technology by facilitating the tokenization of real-world assets (RWAs) with its partnership with Ripple.

Furthermore, the Axelar network will facilitate the deployment of cross-chain dApps directly on the XRPL. In addition to conventional asset bridging, Axelar introduces General Message Passing (GMP), which is expected to enhance XRPL’s capabilities by allowing developers to execute function calls on smart contracts across more than 55 connected blockchains.

This functionality ensures secure, cross-chain exchange of various payloads, including data and function calls, through Axelar’s GMP.

In a statement, David Schwartz, CTO of Ripple and Co-creator of the XRPL, said,

“This initiative from Axelar will help enhance the XRPL’s interoperability by extending it to a wider network of blockchain environments while complementing the XRPL’s rich feature set and opening up new pathways for utility and innovation.”