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Ripple President Monica Long has waded into the conversation regarding banks' mainstream adoption of tokenization offerings. According to Long, many banks are already embracing crypto, but more can jump on the bandwagon with the right regulation.
XRP Ledger and tokenization drive
According to Monica Long, 15 of the 25 largest banks globally have already piloted tokenized asset projects. This comment directly responded to Frank Chaparro, an industry media personality. He pointed out that crypto custody stands between banks and their ability to do anything else in the industry.
Alex DovbnyaMonica Long agreed with this stance and expects many banks to float market-ready offerings in the U.S. in 2025. However, she pointed to a major condition for this to happen, including whether or not the next U.S. administration will grant the needed clarity to the crypto industry.
From current indications, the new role of Crypto Czar David Sacks has given many industry personalities confidence in positive policy changes.
While not specifically mentioned, the Monica Long comment subtly shifts focus to the XRP Ledger and how Ripple Labs may benefit from the projected future. The payments firm is highly interested in driving the tokenization agenda via XRP Ledger, with the Archax partnership.
The company is positioned to benefit from this mainstream adoption trend with its latest product evolution.
Place of RLUSD stablecoin
One of the most important product offerings from Ripple Labs to drive the tokenization agenda is the RLUSD stablecoin. Launched in December, the firm considers this its avenue to power Real-World Adoption (RWA) — with the liquidity boost from RLUSD.
Thus far, the stablecoin has gained wide acclaim, breaking important adoption milestones on top global exchanges. Its reach has also spread to different regions, including Singapore, via Independent Reserve.
With RLUSD, Ripple hopes to play a vital role in banks' mainstream embrace of crypto products.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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