David Schwartz, the Chief Technology Officer of Ripple, recently highlighted the strategic shift of the XRP Ledger (XRPL) towards the tokenization of real-world assets (RWA). This move aligns XRPL with the initiatives of major financial institutions like JPMorgan and Bank of America (BoA).
In a recent interview, Schwartz discussed the evolution of the XRPL. He expressed satisfaction that the technology behind the XRP Ledger is gaining more recognition, moving beyond the focus on XRP, the ledger’s native token.
Schwartz noted that major financial players are increasingly interested in this technology, aligning with predictions that the tokenization market could reach $30 trillion by 2030. He reaffirmed that while users can still buy, hold, and transfer XRP tokens, the technology of the XRPL itself is more intriguing.
Schwartz conveyed his excitement about real-world asset tokenization, citing it as a solution to a genuine problem and highlighting the active interest from financial giants like JPMorgan and BoA in tokenizing traditional assets. Ripple’s CBDC Advisor has revealed plans to use tokenization to revolutionize the real estate sector. Schwartz sees the XRPL, known for its low transaction costs, becoming a leading marketplace for tokenized real-world assets.
This strategic shift of XRPL towards asset tokenization marks a significant development in the blockchain industry. By moving in this direction, XRPL is positioning itself as a critical player in a rapidly growing and diversifying field. Ripple’s initiatives could transform various industries by providing more efficient, secure, and accessible ways to manage real-world assets.
Source: https://coinpedia.org/news/ripple-news-david-schwartz-on-xrpls-bold-leap-into-tokenizing-traditional-assets/