Ripple has announced an expanded collaboration with Archax, the first Financial Conduct Authority-regulated digital asset exchanger of the United Kingdom. The partnership aims to bring hundreds of millions of dollars worth of tokenized real-world assets onto the XRP Ledger (XRPL) over the next year, solidifying XRPL as a premier blockchain for RWA tokenization.
Partnership Announcement at XRPL APEX 2024
This partnership was announced at XRP Ledger APEX 2024, held from June 11-13 in Amsterdam. This collaboration is set to significantly impact the future of asset tokenization on the XRPL.
Enhancing Tokenization Capabilities through Archax-Ripple Partnership
Archax works with leading financial institutions to tokenize their financial RWAs. Through this collaboration, these institutions can now choose XRPL for tokenizing their assets, opening up various downstream use cases. This agreement marks a significant evolution in the relationship between Ripple and Archax, which began in 2022 when Archax collaborated with Metaco for digital asset custody services. Ripple acquired Metaco in mid-2023, further strengthening this partnership.
Why XRPL?
The XRPL is an open-source, decentralised Layer 1 blockchain with built-in tokenization capabilities, a native decentralised exchange, and compliance features. It is designed to support institutional-grade financial use cases. XRPL’s robust infrastructure includes an Automated Market Maker (AMM), upcoming features like Decentralised Identifier (DID), Multi-Purpose Tokens (MPT) capability, a Lending Protocol, and Oracles.
XRPL Track Record Analysis
Over the past decade, XRPL has hosted over 1,000 projects, processed more than 1.8 billion transactions without failures or security breaches, and supports over 5 million active wallets with a network of over 120 validators. This track record makes it an ideal platform for RWA tokenization and institutional-grade DeFI.
Ripple’s collaboration with Archax is poised to revolutionise the tokenization of real-world assets, leveraging XRPL’s advanced capabilities and proven reliability.
