First tokenized money market fund on XRPL
Quote from zerpie on November 25, 2024, 10:54 amRipple working with a Hedera governing council member to tokenize money market funds on the blockchain.
From the press release:
Archax, the first FCA regulated digital asset exchange, broker and custodian, has provided access to a money market fund from UK asset manager abrdn in tokenized form on the XRP Ledger (XRPL), a decentralized blockchain. The fund comprises part of abrdn’s $3.8 billion U.S. dollar Liquidity Fund (Lux) fund and represents the first tokenized money market fund on the XRPL, further establishing it as one of the leading blockchains for real-world asset (RWA) tokenization and institutional decentralized finance (DeFi).
https://twitter.com/Ripple/status/1860995969375990069?ref_src=twsrc%5Etfw
Ripple working with a Hedera governing council member to tokenize money market funds on the blockchain.
From the press release:
Archax, the first FCA regulated digital asset exchange, broker and custodian, has provided access to a money market fund from UK asset manager abrdn in tokenized form on the XRP Ledger (XRPL), a decentralized blockchain. The fund comprises part of abrdn’s $3.8 billion U.S. dollar Liquidity Fund (Lux) fund and represents the first tokenized money market fund on the XRPL, further establishing it as one of the leading blockchains for real-world asset (RWA) tokenization and institutional decentralized finance (DeFi).
Today, in partnership with @ArchaxEx and @abrdn_plc, we’re excited to announce the first tokenized money market fund on the XRP Ledger.
With $16T in tokenized assets projected by 2030, this milestone unlocks cost savings and settlement efficiencies by deploying capital markets…
— Ripple (@Ripple) November 25, 2024