Digital payment network Ripple announced on Monday plans to tokenize the first-ever money market fund on its XRP Ledger (XRPL), a public Layer 1 blockchain.
The move aims to leverage blockchain efficiency and security to further advance the tokenization of real-world assets (RWA).RWAs describe digital tokens that represent physical assets such as real estate, commodities, and currencies. Like cryptocurrency, RWAs can be bought, sold, or traded on digital platforms.
Ripple collaborated with UK-based digital securities exchange Archax and global investment firm Abrdn to carry out the project.
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