According to U.Today, Ripple President Monica Long recently spoke at the Money 20/20 Europe 2024 event in Amsterdam, where she discussed the company's latest developments and strategic initiatives. Long highlighted the increasing demand for real-world asset (RWA) tokenization among Ripple's custody customers and the company's recent entry into the stablecoin market.
Long expressed optimism about Ripple's current trajectory, particularly in relation to RWA tokenization. Real-world assets (RWAs) are being explored on XRPL in several ways. Zoniqx, a pioneer in digital asset management, and Ripple are collaborating to deliver Zoniqx's tokenization services to XRP Ledger.
In addition to RWA tokenization, Long also discussed Ripple's recent foray into the stablecoin market. Earlier this year, in April, Ripple announced plans to create a USD-pegged stablecoin on both XRPL and Ethereum, using XRPL native functionality and ERC-20 token standards, respectively. The stablecoin will be fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents, with monthly third-party attestations. Long expressed hopes for the launch of the stablecoin this year.
Ripple's momentum is further supported by its strategic partnerships as it continues to collaborate with financial institutions and technology providers to promote the adoption of blockchain technology and digital assets. Recently, Ripple announced its partnership with global payments solution provider Clear Junction to improve GBP and EUR payouts for its customers. According to Ripple, this collaboration will enhance its cross-border payment solutions, ensuring faster, secure transactions in the U.K. and EU.