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Ripple President Breaks Silence on Company's Recent Strides

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Thu, 6/06/2024 - 13:57
Ripple President Breaks Silence on Company's Recent Strides
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At the ongoing Money 20/20 Europe 2024 event held in Amsterdam, Ripple President Monica Long shared insights into the company's latest momentum and strategic initiatives.

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Speaking with CNBC's Arjun Kharpal, Long highlighted the growing demand for real-world asset (RWA) tokenization among Ripple's custody customers and the company's entry into the stablecoin market.

"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 wrote in a tweet.

Long expresses optimism about Ripple's current trajectory, particularly as regards RWA tokenization.

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Real-world assets (RWAs) are being explored on XRPL in several ways. Along these lines, Zoniqx, a pioneer in digital asset management, and Ripple are collaborating to deliver Zoniqx's tokenization services to XRP Ledger.

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, utilizing XRPL native functionality and ERC-20 token standards, respectively. The stablecoin will be completely backed by U.S. dollar deposits, short-term U.S. treasuries, "and other cash equivalents," with monthly third-party attestations. The Ripple president expressed hopes for the launch of the stablecoin this year.

Ripple's momentum is further bolstered by its strategic partnerships as it continues collaborating with financial institutions and technology providers to drive the adoption of blockchain technology and digital assets.

Yesterday, Ripple announced its partnership with global payments solution provider Clear Junction to enhance GBP and EUR payouts for its customers. The collaboration, according to Ripple, would strengthen its cross-border payment solutions, ensuring faster, secure transactions in the U.K. and EU.

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