Ripple and Archax, the UK’s first Financial Conduct Authority regulated digital asset exchange, broker and custodian, have announced an extension to their existing collaboration which is expected to bring hundreds of millions of dollars of tokenised real world assets (RWAs) onto the XRP Ledger (XRPL) over the coming year and establish the XRPL as one of the leading blockchains for RWA tokenisation.

Archax works with leading financial institutions to enable them to tokenise their financial RWAs. As a result of this collaboration, financial institutions will be able to select the XRPL to tokenise their RWAs, creating opportunities for numerous downstream use cases for these assets.

The agreement represents an evolution of the relationship between Ripple and Archax which was established in 2022

The partnership began when Archax collaborated with Metaco to offer digital asset custody services to its clients. Metaco was acquired by Ripple in mid-2023.

The XRPL is an open-source public decentralised Layer 1 blockchain. With built-in capabilities like tokenisation, a native decentralised exchange, compliance features and more, the XRPL is built to power institutional-grade financial use cases.

Markus Infanger, SVP, RippleX, said: “Our industry is at the start of the next major adoption stage in which blockchain technology will deliver real utility in financial markets at scale. Ripple is excited to see Archax’s vision of driving the adoption of blockchain and digital assets technology amongst financial institutions come to life, while further underlining the credentials of the XRPL as one of the leading blockchains for RWA tokenisation.”

Graham Rodford, CEO, Archax, added: “We have hit the tipping point for mainstream adoption of digital assets for real world use cases. There is clear real-world utility in use cases like RWA tokenisation for the operational efficiency, access to liquid markets and transparency inherent to crypto, and Archax has already tokenised assets such as equities, debt instruments and money market funds. Financial institutions are now understanding this and we are excited to play our part in helping them to embrace the technology by bringing their assets onto the XRPL.”

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