Monica Long Says Banks Can Unlock Revenue ith Tokenization
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Monica Long, the President of Ripple Labs Inc., has urged banks and financial institutions to take action as tokenization gains ground around the world. According to a recent joint report with Boston Consulting Group, Ripple shared data showing how tokenizing real-world assets could become a game changer by 2033. Long centered her advocacy for institutions on this premise. The Monica Long Message to Financial Institutions In her X post, Monica Long asserted that the global financial sector is at a turning point. She expressed that RWA tokenization, converting physical assets like property or bonds into digital tokens on the blockchain, could become an $18.9 trillion market in less than a decade. She warned that conventional financial institutions must move quickly or risk being left behind. According to the Ripple Labs President, by moving to token-based systems, banks can open new income channels, reach wider markets, and cut down on operating costs. Monica Long also pointed out that if banks used tokenized systems to access a small share of these markets, they could increase profits and efficiency. Ripple Labs and Its Tokenization Push It is worth mentioning that Ripple Labs, the firm behind this push, remains a frontline solutions provider in the blockchain industry. The firm aims to improve financial systems using fast, safe, and cross-platform technology. To strengthen this move, Ripple commissioned the study mentioned above on how tokenization can change global finance with BCG. The firms released a report revealing that assets worth $10 trillion, such as real estate and trade finance, can benefit from being turned into digital tokens. Since the announcement, investors have speculated on what the future holds, especially with a potential partnership with Cardano. Role of XRP and RLUSD Stablecoin In Tokenization It is important to add that Ripple’s XRP Ledger is at the forefront of its…
Filed under: News - @ April 12, 2025 5:16 am