VeChain, Ripple, and IOTA make efforts to take the lead in the Real World Asset tokenization market as Ripple partners with Axelar.
VeChain doubled down on its activities to accelerate growth in all areas as it seals a partnership that would make VET a medium of exchange on Oobit.
VeChain forces Ripple and IOTA into fierce competition as it makes an incredible mark in the world of Real-World Assets (RWA) with its supply chain solution. Having made a mark as a go-to platform for asset tokenization, the VeChain ecosystem, hosted on the VeChainThor blockchain, has transformed the industry with the provision of fast transactions to real-world activities. Interestingly, it is expected to dominate the market with HSBC and Northern Trust estimating that 5-10% of all assets would be tokenized by 2030.
Ripple’s Effort in Leading the RWA Industry
Ripple also chases after dominance with its recent integration with Axelar reported by Crypto News Flash. Drawing insight from that report, three other blockchains – Chainlink, and IOTA, currently remain another dominant force in the trillion-dollar market as they seek to attract a chunk of the market share. Ripple’s partnership would seamlessly deploy cross-chain decentralized applications on the XRP Ledger (XRPL) via Axelar’s General Message Passing (GMP). In the long run, RWA tokenization adoption would be accelerated on the XRPL.
A recent report by the Chief Technology Officer at Ripple David Schwartz discloses that real estate and commodities would be the backbone of tokenization in the future.
Real World Asset (RWA) tokenization will drive the blockchain economy, led by real estate and commodities. Tokenized RWAs on XRP Ledger will enhance collateralized loans, improve interoperability, and attract institutional adoption, reshaping the financial sector. #XRPL will be a leading blockchain enabling these use cases.
VeChain Accelerates Growth with More Collaborations
VeChain’s recent activities focus on all sectors of its ecosystem as it just sealed a partnership agreement with a leading mobile payment app Oobit to integrate VET into its platform. This was earlier reported by Crypto News Flash. According to the report, the plan is to enable users to utilize it for their day-to-day transactions while fulfilling its ESG mission. VeChain’s CEO, Sunny Lu commented on the partnership.
VeChain is excited to partner with Oobit, merging our commitment to ESG initiatives with Oobit’s innovative approach. The integration of VET into Oobit’s platform is not just a technological enhancement; it’s a tangible step towards making blockchain technology synonymous with positive societal impact.
Some of the groundbreaking partnerships of VeChain are highlighted in the video below.
As recently reported by CNF, VeChain emerged as one of the high-profile organizations named in the AI & Blockchain Convergences Task Force. The task force was charged with optimizing understanding and improving ethical standards for the safe and efficient use of AI.
By generating strategic insights and actionable recommendations, the task force aims to bolster integration, reinforce security, and advocate for the ethical deployment of these transformative technologies. Positioned to navigate this intricate landscape, the AI & Blockchain Convergences Task Force champions understanding, ethical standards, and visionary innovation.
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VeChain aims for a $20 trillion market by filing a trademark application for V3TR, focusing on financial integration. This move follows ISO standards and strategically aims for global impact. The recent launch of VeChain’s AA and the filing of V3TR mark significant growth in the cryptocurrency sector.
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A well-known crypto trader and VeChain (VET) investor predicts the cryptocurrency could reach $2.4 as its peak price during this market cycle. Recent chart analysis suggests that VeChain’s performance is still aligned with this target.

VeChain’s Strategic Move Towards Financial Integration
VeChain is strategically aligning itself with global financial communication standards by filing for a V3TR trademark registration. This step underscores VeChain’s aim to bridge the gap between the cryptocurrency industry and traditional financial systems.
The pending V3TR trademark holds significant implications for VeChain, potentially leading to ISO 20022 compliance, tapping into the trillion-dollar payments market, and fostering partnerships with central banks. With the global payments industry projected to reach $20 trillion by 2026, VeChain stands to benefit from substantial opportunities for expansion.
VeChain’s trademark application encompasses various financial services, including electronic currency transfers, token issuance and redemption, and digital currency provision for online communities. This demonstrates VeChain’s commitment to developing efficient blockchain infrastructure across diverse sectors, particularly in finance, healthcare, and supply chain management.
Founder Sunny Lu anticipates a dynamic year for the crypto industry in 2024, foreseeing progress in crypto regulation and the impact of approved spot Bitcoin Exchange-Traded Funds (ETFs). These advancements have the potential to drive mass crypto adoption and increased institutional investor involvement, addressing challenges associated with token utility.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
 

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In 2024, VeChain is gearing up to unveil something big at Paris Blockchain Week, sparking excitement within the VeFam community.
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While VeChain has faced mixed reviews from earlier releases, its recent successes and optimistic forecasts from analysts like EGRAG CRYPTO highlight the platform’s potential for growth.

Excitement Builds in VeChain Community for Paris Blockchain Week
The VeChain community, affectionately known as the VeFam, is buzzing with anticipation following a recent hint from the official VeChain account about a significant surprise. This teaser has added to the excitement surrounding the upcoming Paris Blockchain Week, aligning with VeChain’s tradition of unveiling major announcements at prestigious events.

Previous announcements by VeChain, such as the introduction of VeBetterDAO and the launch of coins B3TR and VOT3, have showcased the company’s dedication to decentralization and sustainability. However, these announcements have also sparked diverse sentiments within the community due to their varying impacts on VeChain’s native tokens, VET and VTHO.
Celebrating Achievements Ahead of Paris Blockchain Week
VeChain has celebrated numerous achievements leading up to Paris Blockchain Week, including forging strategic alliances and implementing educational programs.
During a session in Belfast, VeChain’s CTO, Antonio Senatore, demonstrated the platform’s potential for widespread adoption, emphasizing features like fee delegation and fast transactions. CEO Sunny Lu also made significant contributions, outlining VeChain’s goal of facilitating effective blockchain-based partnerships.

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Anticipation Grows Amid Analyst Predictions for VET
Cryptocurrency Analyst EGRAG CRYPTO’s Projections: The anticipation surrounding VeChain (VET) is heightened by predictions from cryptocurrency analyst EGRAG CRYPTO from X, who suggests a potential upward trend for VET, with a projected price objective of $1.6. EGRAG identified patterns such as the triple bottom formation between 2018 and 2020 through historical price chart analysis, indicating the possibility of a significant rally for VET.

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Theoretical Projections: While noting that these projections are theoretical, EGRAG speculates a potential price trajectory for VET, envisioning a rise to $0.115, followed by a decline to $0.035, and then a leap to $1.06.
Also Read:   Fantom Falls 10% in One Day: Is $1.4 Too Low for FTM?
VeChain’s Recent Advancements: VeChain’s past performance and recent advancements, including the introduction of the VeChain Distributed Ledger Technology (DLT) and the launch of the B3TR and VOT3 tokens, contribute to the growing anticipation. These advancements are seen as potential catalysts for VeChain’s expansion.
Current VET Price Movement: At the time of writing, the VET price has experienced a 2.90% increase in the last 24 hours and a 4.24% increase over the past 7 days, reaching $0.043.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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