Ripple is eyeing further adoption for its stablecoin, which is why it is integrating with real-world assets tokenization platform Securitize to add Ripple USD as an off-ramp for BlackRock and VanEck tokenized funds.
Summary
- Ripple and Securitize have partnered to expand adoption of the Ripple USD stablecoin.
- Users will be able to exchange tokenized treasuries funds by BlackRock and VanEck for RLUSD.
- Securitize will also integrate XRP Ledger to boost real-world assets on the blockchain.
Ripple and Securitize have partnered to bring the new stablecoin off ramp to Securitize’s tokenization platform via a smart contract that allows holders of BlackRock’s and VanEck’s tokenized funds to exchange shares of these assets for the stablecoin, according to a press release.
Initial support is for BlackRock’s USD Institutional Digital Liquidity Fund and VanEck’s Treasury Fund, respectively BUIDL and VBILL. Support for Ripple USD (RLUSD) for BUIDL off-ramp is live, while VBILL will launch over the next few days. BUIDL is currently a $2 billion RWA asset on-chain, while data on rwa.xyz shows VBILL has a market cap of $74 million.
The rollout of the smart contract means holders will be able to instantly convert the tokenized treasury funds for RLUSD and use the stablecoin to unlock benefits such as on-chain transfers and yield among other decentralized finance strategies.
RLUSD adoption key to integration
Ripple, the company behind the XRP (XRP) cryptocurrency, sees the partnership with Securitize as one further step towards accelerating the adoption of RLUSD.
“Making RLUSD ava
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Author: Benson Toti
