Catenaa, Wednesday, November 27, 2024- Ripple announced the launch of a tokenized money market fund on the XRP Ledger on Monday, marking a significant milestone in the integration of blockchain with traditional financial products.
The initiative, developed in partnership with Archax, the UK’s first Financial Conduct Authority-regulated digital asset exchange, brings tokenized access to abrdn’s $4.7 billion US Dollar Liquidity Fund (Lux). According to Ripple, this is the first tokenized money market fund available on the XRP Ledger.
Abrdn said the project highlights the advantages of moving the investment and settlement process to blockchain, enhancing efficiency and reducing operational friction. RippleX emphasized that tokenizing real-world assets can deliver utility at scale and improve financial operations.
Ripple cited estimates suggesting the tokenized asset market could reach a total value of $16 trillion by 2030, underscoring the potential for blockchain to reshape financial services.
Archax’s regulatory status strengthens the partnership, providing a compliant framework for digital asset innovation. The tokenized money market fund represents a growing trend of blockchain firms collaborating with traditional asset managers to modernize investment tools.
This development aligns with Ripple’s broader efforts to expand the utility of the XRP Ledger beyond cross-border payments, further integrating blockchain with mainstream finance.
