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06/07/2024

Ripple President discusses recent achievements

06/07/2024
4,4

At the recent Money 20/20 Europe 2024 conference taking place in Amsterdam, Ripple's Monica Long, the company's president, delved into the firm's current progress and plans.

In a conversation with CNBC's Arjun Kharpal, Long discussed the surge in interest in the tokenization of real-world assets among those utilizing Ripple's custody services, as well as the company's foray into the arena of stablecoins.

"It was wonderful to catch up with Arjun Kharpal amidst the stunning setting of Amsterdam, discussing the latest developments at Ripple, notably the increased interest in real-world asset tokenization from our custody clients and our venture into the stablecoin domain," Long shared via a Twitter post.

Long is bullish about the direction in which Ripple is heading, especially about the tokenization of real-world assets.

The exploration of real-world assets (RWAs) on the XRP Ledger is being advanced in various forms. In this effort, Ripple is working alongside Zoniqx, an innovator in the digital asset management space, to bring Zoniqx's tokenization offerings to the XRP Ledger.

Beyond the topic of RWA tokenization, Long also emphasized Ripple's recent strategic move into the stablecoin sector.

In April of the current year, Ripple unveiled its intention to launch a stablecoin anchored to the USD on both the XRP Ledger and Ethereum platforms, leveraging the native capabilities of XRPL and the ERC-20 token standard. This stablecoin is set to be fully supported by reserves of U.S. dollars, short-term U.S. government securities, "and other equivalent assets," with regular audits by an external party. Long is hopeful about getting the stablecoin off the ground within the year.

The trajectory of Ripple is further amplified by its tactical alliances as it persists in partnerships with banking institutions and tech service providers to further the integration of blockchain technology and digital currencies.

Just yesterday, Ripple broadcasted its collaboration with Clear Junction, a leader in worldwide payments solutions, aiming to enhance GBP and EUR disbursements for its clientele. This alliance is set to fortify Ripple's international payment offerings, guaranteeing quicker and more secure transactions across the U.K. and EU, according to the company.


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