Ripple, Archax debut first tokenized money market fund on XRP Ledger
To kick things off, Ripple’s XRP Ledge will tokenize asset manager asset manager abrdn’s $4.77 billion US dollar Liquidity Fund.
Blockchain payments firm Ripple has announced the launch of the first tokenized money market fund on the XRP Ledger, comprising asset manager Abrdn’s $4.77 billion (3.8 billion British pounds) US dollar Liquidity Fund.
It was made possible through Ripple’s partnership with Archax, the United Kingdom’s first Financial Conduct Authority-regulated cryptocurrency exchange, broker and custodian, which has access to Abrdn’s money market fund.
The tokenization of abrdn’s $4.77 billion money market fund on XRPL demonstrates how more real-world assets (RWAs) are moving on onchain to unlock operational cost savings and settlement efficiencies, Ripple said in a Nov. 25 statement.
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Author: Brayden Lindrea
