Ripple, a prominent player in the blockchain and cryptocurrency industry, and Archax, the first regulated digital asset exchange in the UK, have revealed an expansion of their partnership on June 13, 2024. The objective of this collaboration is to facilitate the tokenization of real-world assets worth hundreds of millions of dollars on the XRP Ledger within the next twelve months, solidifying XRPL’s position as a top blockchain for asset tokenization. This joint effort will empower financial institutions to tokenize their assets, leading to a variety of new applications. This development builds upon the initial relationship formed in 2022, when Archax worked with Metaco, a company later acquired by Ripple, to provide digital asset custody services. Both Ripple and Archax prioritize compliance and actively engage with regulators and policymakers worldwide. The announcement was made during the XRP Ledger APEX 2024 summit in Amsterdam.
