Ripple Launches a Tokenized Money Market Fund on XRP Ledger
Yesteday, Ripple announced that Archax, a Financial Conduct Authority-regulated digital asset exchange, has made it possible for users to access a tokenized money market fund managed by UK-based asset manager Abrdn through the XRP Ledger.
This fund, which is part of Abrdn’s £3.8 billion US dollar Liquidity Fund (Lux), is the first of its kind to be available on the XRPL. This partnership highlights the XRPL’s increasing role as a platform for tokenizing real-world assets and institutional decentralized finance.
According to Ripple, this collaboration between Archax and Ripple is an important step towards reducing operational costs and improving settlement efficiency by utilizing capital markets infrastructure on the XRPL.
The senior vice president of Ripplex, Markus Infanger, stated that this development showcases the growing interest and adoption of on-chain economies, and further solidifies the XRPL’s position as a top blockchain for tokenizing real-world assets. Ripplex, a division of Ripple that focuses on developing and supporting blockchain infrastructure and applications, plays a key role in accelerating the adoption of blockchain technology.
