Following its partial win against the United States Securities and Exchange Commission (SEC), Ripple has witnessed a surge in adoption.

Demand for Ripple’s Central Bank Digital Currency (CBDC) technology is growing outside the US, marking its influence in regions including Palau, Hong Kong, and South Korea.

Fubon Bank Explores Real Estate Tokenization

Hong Kong’s Fubon Bank is set to explore real estate tokenization using Ripple’s CBDC platform. The bank’s chief strategy officer and vice president, Xu Luosheng, revealed the news.

Slated for a third-quarter test, the program will see the conversion of Hong Kong dollars into digital test versions (eHKD) for issuing e-HKD loans to chosen customers. Furthermore, Ripple’s tech will facilitate the tokenization of property liens.

Ross Edwards, the head of Ripple’s CBDC initiative, clarified that the trial would not involve real funds. Still, it will employ the same technology behind the XRP Ledger (XRPL) – albeit in a private format.

Palau Embraces Rip
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Author: Oluwapelumi Adejumo

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