Ripple and Archax are now deepening their cooperation to allow several hundred million dollars of real-world assets (RWAs) to be tokenized and listed on the XRPL in the coming year. This action is expected to position XRPL as the blockchain of choice for onboarding traditional assets into the digital world.
Archax Teams Up with Financial Institutions for Asset Tokenization on XRPL
Archax collaborates with leading financial institutions, where its goal is to convert their assets into tokens. With this relationship, these institutions are now free to use the XRPL for their tokenization service.
Ripple and Archax started their collaboration in 2022 when Archax provided digital asset custody services with Metaco. This brought the two even closer, with Ripple now acquiring Metaco altogether under its belt in 2023.
According to Markus Infanger, SVP, RippleX, the firm has been working with other similar businesses across the industry. However, this partnership is a “big step” towards a true financial market application on blockchain. Archax is leading the way and he is eager to see how they drive blockchain adoption in financial institutions.
XRPL and Archax Partnership Emphasizes Regulatory Standards in Blockchain
Both Archax and Ripple place an emphasis on working with regulators to ensure they are compliant and meet regulatory standards. Being the only FCA-regulated digital securities exchange, Archax is fully positioned to avail its customers the advantages of decentralized finance (DeFi) via tokenization, enhanced through XRPL capabilities.
This partnership has been announced at the XRP Ledger APEX 2024 summit which held between 11-13 June in Amsterdam. It represents one of the most promising partnerships of the blockchain and financial sector.
