Ripple and Archax have announced an expanded collaboration to tokenize and list several hundred million dollars worth of real-world assets (RWAs) on the XRP Ledger within the next year. This strategic move aims to establish XRPL as the preferred blockchain for bringing traditional assets into the digital realm.
The partnership between Ripple and Archax was unveiled at #XRPLApex, showcasing their commitment to tokenize RWAs and solidify XRPL’s position as a leading blockchain for asset tokenization.
Archax has joined forces with prominent financial institutions to tokenize their assets, offering them the opportunity to utilize XRPL for their tokenization needs. This collaboration signifies a significant milestone in enabling financial institutions to leverage blockchain technology for asset tokenization.
The collaboration between Ripple and Archax began in 2022, with Archax providing digital asset custody services in partnership with Metaco. Following Ripple’s acquisition of Metaco in 2023, their partnership has grown stronger, paving the way for innovative blockchain solutions in the financial market.
Markus Infanger, SVP of RippleX, emphasizes the importance of this partnership in advancing blockchain adoption in the financial sector. He commends Archax for leading the way in driving blockchain adoption among financial institutions and looks forward to the impact of this collaboration.
Both Archax and Ripple prioritize regulatory compliance and work closely with regulators to ensure adherence to regulatory standards. As the only FCA-regulated digital securities exchange, Archax is well-positioned to offer customers the benefits of decentralized finance through tokenization on XRPL.
The announcement of this partnership took place at the XRP Ledger APEX 2024 summit in Amsterdam, held from 11-13 June. This partnership marks a significant milestone in the collaboration between the blockchain and financial sectors, highlighting the potential for transformative innovations in the industry.