In a most audacious maneuver, Ripple has embarked upon a journey of monumental proportions, acquiring the esteemed prime broker, Hidden Road, for a staggering sum of $1.25 billion. This acquisition, as David Schwartz, the illustrious chief technology officer of Ripple, so eloquently stated, is a veritable βdefining momentβ for the blockchain payments company, promising to unlock a veritable treasure trove of use cases for the XRP Ledger among the hallowed halls of institutions. π¦
βIndeed, this acquisition is nothing short of a defining moment for the XRP Ledger and XRP,β Schwartz proclaimed with a flourish on social media, as if announcing the arrival of spring after a long winter. πΈ
Hidden Road, a prime brokerage and credit network, boasts a clientele of over 300 institutional customers. On any given day, it clears more than $10 billion and processes a staggering 50 million transactions across the traditional financial rails. One can only imagine the sheer volume of activity that could be transposed onto the XRP Ledger β a tantalizing prospect that Hidden Road is keen to explore, not to mention the future utilization of collateral and real-world assets tokenized on this illustrious ledger. π
Ripple has long heralded the XRP Ledger as a scalable platform for real-world assets (RWAs), having joined forces with the crypto exchange Archax to launch a tokenized money market fund last November. Yet, until this momentous occasion, the tokenization on the XRP Ledger has been akin to a timid mouse in a grand ballroom β minimal and rather shy. Industry data reveals only two RWAs on the XRP Ledger, valued at a modest $50 million. π
RWA Market Continues to Scale
In a delightful twist of fate, the value of on-chain RWAs has surged by 9.2% over the past 30 days, defying the general downtrend in the cryptocurrency market, which has been plagued by fears of global growth and tightening financial conditions. During this period, the number of asset holders has increased by 6.2%, according to the ever-reliable RWA.xyz. π
Analysts from the traditional finance realm are predicting that tokenized RWAs will burgeon into a multi-trillion-dollar market by the year 2030, thanks to vast addressable markets spanning bonds, commodities, equities, real estate, and the M2 money supply. π
Some of the worldβs largest corporations are already dabbling in the art of asset tokenization, with the CME Group and Google recently joining forces to explore how the Google Cloud Universal Ledger could enhance capital market efficiency. A most intriguing partnership, indeed! π€
Prometheum CEO Aaron Kaplan recently shared with CryptoMoon that the regulatory landscape in the United States is ripe for tokenization to truly flourish. The primary obstacle to adoption remains the lack of secondary markets for the buying and selling of tokenized assets. However, this situation may soon change as crypto-native companies and traditional brokerages vie for market share, much like suitors at a grand ball. π
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2025-04-08 18:38