Ripple President Unveils New Initiatives at Money 20/20 Europe

Ripple President Unveils New Initiatives at Money 20/20 Europe

At the Money 20/20 Europe 2024 event in Amsterdam, Ripple President Monica Long shared insights on the company’s latest progress and strategic initiatives. Speaking with CNBC’s Arjun Kharpal, Long highlighted the growing demand for real-world asset (RWA) tokenization among Ripple’s custody customers and announced the company’s entry into the stablecoin market.

Growing Demand For RWA Tokenization

“Great catching up with Arjun Kharpal in beautiful Amsterdam on recent Ripple momentum, including growing demand for RWA tokenization from our custody customers and our entry to the stablecoin market,” Long tweeted. 

She expressed optimism about Ripple’s current trajectory, especially regarding RWA tokenization. Real-world assets (RWAs) are being explored on the XRP Ledger (XRPL) in several innovative ways. Notably, Ripple is collaborating with Zoniqx, a pioneer in digital asset management, to deliver Zoniqx’s tokenization services on the XRPL. 

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In addition to discussing RWA tokenization, Long highlighted Ripple’s recent entry into the stablecoin market. Earlier this year, in April, Ripple announced plans to create a USD-pegged stablecoin on both XRPL and Ethereum. This stablecoin will utilize XRPL’s native functionality and ERC-20 token standards, respectively. 

Related article: Ripple CEO Confident in XRP ETF Future, Predicts 2025 Launch

U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents will fully back the stablecoin, with third parties providing monthly attestations. Long expressed hopes for the stablecoin’s launch later this year.

Strategic Partnerships And Collaborations

Ripple’s momentum is further bolstered by its strategic partnerships. The company continues to collaborate with financial institutions and technology providers to drive the adoption of blockchain technology and digital assets. For instance, Ripple recently announced a partnership with global payments solution provider Clear Junction. This collaboration aims to enhance GBP and EUR payouts for Ripple’s customers, thereby strengthening cross-border payment solutions and ensuring faster, secure transactions in the U.K. and EU.

Throughout her discussions, Long emphasized the company’s forward-thinking approach and its commitment to innovation in the digital asset space. As demand grows for RWA tokenization and Ripple strategically enters the stablecoin market, the company positions itself well to capitalize on emerging opportunities.

Additionally, Ripple’s robust partnerships with entities like Clear Junction underscore its dedication to improving financial transactions. Consequently, Ripple’s recent strides signify a promising future for the company and its stakeholders.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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