XRP SOARS! Ripple just made waves in the digital finance sector by announcing a partnership with Archax and ABRDN PLC to launch the first tokenized money market fund on the XRP Ledger. This is a significant step in applying blockchain technology to optimize the capital markets.
Details:
• Strategic partners:
• Archax: A digital marketplace regulated by the FCA (Financial Conduct Authority of the UK).
• ABRDN PLC: One of the leading asset managers with a USD liquidity portfolio worth £3.8 billion.
• Objectives:
• Leverage blockchain technology on the XRP Ledger to implement a tokenized money market fund.
• Increase payment efficiency and reduce costs in financial transactions.
• Commitment:
• Ripple has invested $5 million in the tokens of the fund, highlighting strong support for this initiative.
Impact on XRP:
Immediately following the announcement, XRP saw an impressive price increase of up to 17.56%, reaching $1.54, indicating market optimism regarding the practical application potential of the XRP Ledger.
Tokenized asset market:
Forecasts suggest that the value of tokenized assets could reach $16 trillion by 2030, and this new fund is evidence of the transition of traditional finance to a digital platform.
This is not only a milestone for Ripple but also marks an important step for the global adoption of tokenized assets.
#Xrp🔥🔥
