{"id":101305,"date":"2024-11-25T20:31:22","date_gmt":"2024-11-26T00:31:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101305"},"modified":"2024-11-25T20:32:46","modified_gmt":"2024-11-26T00:32:46","slug":"ripple-archax-launch-tokenized-money-marketfund","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-archax-launch-tokenized-money-marketfund\/","title":{"rendered":"Ripple, Archax Launch First Tokenized Money Market Fund on XRP Ledger"},"content":{"rendered":"\n

Ripple's XRP Ledge<\/a> will start\u00a0tokenize asset management abrdn's $4.77 billion US dollar Liquidity Fund.<\/p>\n\n\n\n

\"Ripple,<\/figure>\n\n\n\n

Blockchain payments firm Ripple has announced the debut of the first tokenized money market fund on the XRP Ledger. <\/p>\n\n\n\n

The fund is based on asset manager abrdn\u2019s $4.77 billion (3.8 billion British pounds) US Dollar Liquidity Fund.<\/p>\n\n\n\n

Partnership with Archax Enables Tokenization<\/h2>\n\n\n\n

The initiative was made possible through Ripple\u2019s collaboration<\/a> with Archax, the United Kingdom\u2019s first cryptocurrency exchange, broker, and custodian regulated by the Financial Conduct Authority. Archax provides access to abrdn\u2019s money market fund.<\/p>\n\n\n\n

Ripple highlighted in a Nov. 25 statement that the tokenization of abrdn\u2019s $4.77 billion fund on the XRP Ledger illustrates the growing trend of real-world assets (RWAs) transitioning on-chain. <\/p>\n\n\n\n

This shift is expected to deliver significant operational cost savings and settlement efficiencies.<\/p>\n\n\n\n

Duncan Moir, senior investment manager at abrdn, remarked, \u201cReal benefits are to be had from leveraging the efficiency of moving the end-to-end investment and cash settlement process on-chain.\u201d<\/p>\n\n\n\n

\"Ripple,
Source:\u00a0<\/em>Archax<\/em>\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Access to abrdn\u2019s tokenized money market fund on the XRP Ledger will be limited to \u201cprofessional investors\u201d via Archax\u2019s tokenization platform, according to Ripple.<\/p>\n\n\n\n

Ripple also announced it will allocate $5 million into tokens linked to abrdn\u2019s US Dollar Liquidity Fund.<\/p>\n\n\n\n

Real-World Asset Market Potential<\/h2>\n\n\n\n

This move aligns with Ripple\u2019s broader RWA strategy to capitalize on a market projected to reach $16 trillion by 2030, as estimated by Boston Consulting Group.<\/p>\n\n\n\n

Tokenized money market funds currently manage over $1 billion in assets, led by BlackRock\u2019s USD Institutional Digital Liquidity Fund, which holds $443.9 million, according to data from Dune Analytics <\/use><\/svg><\/span><\/a>and asset manager 21Shares.<\/p>\n\n\n\n

\u201cThere is now real momentum building for tokenized real-world assets,\u201d stated Archax CEO Graham Rodford.<\/p>\n\n\n\n

Competition in the Tokenized RWA Space<\/h2>\n\n\n\n

According to Dune Analytics data, ripple faces competition in the RWA space from Ethereum and Stellar, which have tokenized $3.07 billion and $386.2 million worth of RWA assets.<\/p>\n\n\n\n

The most commonly tokenized RWAs, excluding fiat-collateralized stablecoins, are government securities and commodities, which account for $2.28 billion and $1.14 billion, respectively.<\/p>\n\n\n\n

Meanwhile, Ripple\u2019s XRP token has been a strong performer, surging 27.9% over the past week to $1.43.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple’s XRP Ledge will start\u00a0tokenize asset management abrdn’s $4.77 billion US dollar Liquidity Fund. Blockchain payments firm Ripple has announced the debut of the first tokenized money market fund on the XRP Ledger. The fund is based on asset manager abrdn\u2019s $4.77 billion (3.8 billion British pounds) US Dollar Liquidity Fund. Partnership with Archax Enables […]<\/p>\n","protected":false},"author":56,"featured_media":101309,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12094,710,16355,142,14513,146],"class_list":["post-101305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-adoption-2","tag-business","tag-digital-asset-management","tag-ripple","tag-tokenization","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/Ripple-Archax-Launch-First-Tokenized-Money-Market-Fund-on-XRP-Ledger.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101305"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101309"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}