Ripple has announced teaming up with Archax, a UK-based FCA-regulated digital asset exchange, to launch a tokenized money market fund on the XRP Ledger . The fund, managed by UK asset manager abrdn, is part of its £3.8 billion US Dollar Liquidity Fund .
This move marks the first instance of a tokenized money market fund being deployed on the XRPL blockchain., Ripple plans to tap the growing potential of tokenized finance, as highlighted by McKinsey’s data, which estimates over $1 billion in assets under management for tokenized money market funds and projects the total value of tokenized assets to reach $16 trillion by 2030.
As part of the latest collaboration, Ripple has allocated $5 million to tokens linked to the abrdn Lux fund. This allocation forms part of the company’s broader strategy to invest in RWA projects using the XRPL and to encourage institutional adoption of blockchain technology.
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Source: CoinDesk - 🏆 291. / 63 Read more »