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Ripple, Archax Extend Partnership to Tokenize Real-World Assets on XRPL

Ripple and Archax have extended their collaboration to tokenize hundreds of millions of dollars of real-world assets on the XRP Ledger, enhancing blockchain's role in financial markets.


Ripple and Archax have extended their collaboration to tokenize hundreds of millions of dollars of real-world assets on the XRP Ledger, enhancing blockchain's role in financial markets.
Credit: Foretoken Media 2024

AMSTERDAM, NL — Ripple, a pioneer in blockchain and crypto solutions, and Archax, the UK’s first regulated digital asset exchange, have announced an extension of their collaboration, aiming to tokenize hundreds of millions of dollars worth of real-world assets (RWAs) on the XRP Ledger (XRPL). The initiative, revealed at the XRP Ledger APEX 2024 summit in Amsterdam, underscores the strategic alignment of Ripple and Archax in enhancing blockchain’s role in traditional finance.


Ripple and Archax Expand Collaboration for RWA Tokenization


The partnership builds on the foundations laid in 2022, when Archax joined forces with Metaco, acquired by Ripple in mid-2023, to enhance digital asset custody services. The synergy is now focused on leveraging XRPL’s robust features, including its native decentralized exchange and advanced compliance functionalities, to facilitate the tokenization of various assets like equities, debt instruments, and money market funds.


Ripple's Senior Vice President of RippleX, Markus Infanger, emphasized the vision of blockchain technology's mainstream adoption in financial markets:


“Ripple is excited to see Archax’s vision of driving blockchain adoption among financial institutions come to life.”

Enhancing Compliance and Institutional Adoption


Graham Rodford, CEO of Archax, highlighted the operational and strategic advantages of the partnership. “We have hit the tipping point for mainstream adoption of digital assets for real-world use cases,” Rodford stated, citing benefits like increased market liquidity, operational efficiency, and transparency.


The XRPL, known for its decentralized, open-source architecture, has supported over 2.8 billion transactions and more than 5 million active wallets since 2012, governed by a network of 120 validators, ensuring its security and reliability.


Ripple's Compliance-First Approach


The collaboration is bolstered by a compliance-first approach, with Archax’s unique standing as the UK’s first FCA-regulated digital securities exchange and custodian complementing Ripple’s global regulatory strategy. Ripple’s CEO, Brad Garlinghouse, expressed enthusiasm on X, stating,


“Very excited about this linkup with Ripple and Archax — financial institutions are increasingly tokenizing their RWAs on layer 1s like XRPL through regulated entities like Archax, and I only expect this to grow exponentially in the future.”

In addition to this partnership, Ripple continues to expand its ecosystem with initiatives like the XRPL Japan and Korea Fund and the acquisition of Standard Custody & Trust Company. The expanded partnership signals a significant step forward in Ripple and Archax’s commitment to transforming the financial landscape through blockchain technology.

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