Ripple CTO David Schwartz recently sat down to chat about how the XRP Ledger is enabling a revolution in the tokenization of real-world assets. While speaking in a recent interview, Schwartz noted his excitement around the XRP ecosystem graduating from the investors’ obsession with the XRP token to a more generalized interest in the functionalities of the XRP Ledger.
According to the CTO, the institutional adoption of the XRP Ledger’s technology is also growing in its use in enterprise and financial applications.
XRP Ledger Powering Asset Tokenization
The concept around the tokenization of real-world assets (RWA) has gained ground in recent years. Digital asset tokenization of real-world assets allows owners to store rights of assets like gold and commodities on the blockchain. However, most of the attention around asset tokenization has gone towards Ethereum and a few other blockchains.
According to Schwartz in the interview, this trend is now moving into the XRP Ledger, with mainstream financial giants like JP Morgan and Bank of America actively pursuing the tokenization of traditional assets.
“There’s real interest from mainstream financial giants like JPMorgan and Bank of America are actively pursuing tokenization of traditional assets. So I think that’s a scenario to watch and I think that scenario with the XRP ledger is going to excel,” Schwartz said.
The CTO also emphasized the fundamental functionality of the XRP as a token with enough liquidity that can be bought and sold. This functionality is gaining traction in traditional finance, with financial institutions such as HSBC and Chase Bank allowing consumers to settle their mortgage loans using XRP.
Total crypto market cap is currently at $1.3 trillion. Chart: TradingView.com
Schwartz pointed out that XRP’s ear
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Author: Scott Matherson
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