The post Ripple Labs Extends Collaboration with UK’s Archax to Enhance RWA Adoption on XRPL appeared on BitcoinEthereumNews.com.

Coinspeaker Ripple Labs Extends Collaboration with UK’s Archax to Enhance RWA Adoption on XRPL Ripple Labs, a top-tier multinational blockchain payment company based in the United States, has announced a collaboration extension with Archax, a digital asset exchange regulated by the United Kingdom’s Financial Conduct Authority (FCA). According to the announcement, the collaboration extension between Ripple and Archax will help onboard more institutional investors seeking to tokenize real-world assets (RWA) on the XRP Ledger (XRPL). The collaboration is key to the mass adoption of XRP and XRPL in the coming years amid heightened competition in the blockchain space. Moreover, dozens of blockchains have emerged in the past few years, all offering almost similar services and focused on the same markets of tokenizing real-world assets. “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 tokenization,” Markus Infanger, SVP at RippleX, noted. Ripple and Archax on RWA Adoption The partnership announcement was made during the XRP Ledger APEX 2024, which happened between June 11-13 in Amsterdam. The relationship between Archax and Ripple was cemented after the blockchain payment company established a partnership with Metaco in 2022 to offer digital asset custody services. As Coinspeaker previously reported, Ripple acquired the Swiss-based web3 company, Metaco for $250 million. Ripple has used Metaco to extend its global reach, especially in the European market amid the implementation of the MiCA regulations. Both companies will be working in onboarding institutions seeking to tokenize assets through regulated channels. Moreover, Ripple and Archax have succeeded in offering regulated web3 services in the past, especially to institutional investors. “There is clear real-world utility in use cases like RWA tokenization for…

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Filed under: News - @ June 14, 2024 12:10 am