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Austin King, co-founder and CEO of OmniNetwork, recently highlighted Ripple’s latest push into tokenization and how it could reshape the onchain economy. In a post on X, he shared insights into Ripple’s strategy and its potential impact on XRP and the broader blockchain ecosystem. Is Ripple positioning the $XRP Ledger to take on BlackRock? With over $10 trillion dollars under management, the world’s largest asset manager is beginning to focus on Ripple’s latest expansion: tokenization. Here is a strategic breakdown of this next phase for $XRP: pic.twitter.com/L9cdUt0hDx — Austin King (@0xASK) January 18, 2025 King pointed out that blackrock blackrock – Fintech SolutionAdvisoryInvestment platform , the world’s largest asset manager, is turning its focus toward tokenization. Ripple, he explained, is well-positioned to lead this trend. He detailed how Ripple’s efforts could set the stage for a major shift in how assets move and function on the blockchain. $7 Billion Moves Onchain: Are Exchanges Losing Their Edge? Over the past 24 hours, $7 billion in trading volume has shifted onchain. King noted that this trend reveals a critical weakness for major exchanges like coinbase coinbase – [email protected] WalletCentralised Exchange and binance binance – [email protected] Centralised Exchange -a lack of high-quality assets from traditional finance. Ripple and OmniNetwork aim to fill this gap. Ripple has already launched RLUSD, a tokenized version of the dollar, and Omni’s role is to make these tokenized assets accessible across the onchain economy. Tackling Blockchain’s Two Key Challenges King identified two significant obstacles facing the blockchain space: The shortage of tokenized assets from the traditional financial system. The lack of seamless cross-chain connectivity. XRP Ledger is optimized for payments and tokenization but doesn’t yet support connections to other blockchains. OmniNetwork addresses this issue by enabling smooth cross-chain interactions, creating a stronger and more connected ecosystem when combined…

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Filed under: News - @ January 18, 2025 2:24 pm