Ripple, a leading enterprise blockchain and crypto solutions provider, has been selected to showcase a real estate asset tokenization solution as part of the Hong Kong Monetary Authority’s (HKMA) new pilot. 

The Hong Kong Monetary Authority has announced the launch of its e-HKD Pilot Programme, which includes a range of payment and settlement solutions such as full-fledged payments, programmable payments, offline payments, tokenized deposits, settlement of Web3 transactions, and settlement of tokenized assets, as reported by Bitcoinist. 

Ripple Revolutionizes Real Estate With HKMA Partnership?

Tokenizing commodities such as real estate is gaining traction within the financial services and government sectors, with real-world asset tokenization predicted to be a multi-trillion-dollar industry by 2030. Ripple’s solution combines the e-HKD, tokenized real estate, and lending protocols, all running on a private and secure ledger built with the same technology as the XRP Ledger (XRPL).

The e-HKD Pilot Programme, which focuses on real estate asset tokenization and equity release, will allow the company to demonstrate its innovative solution alongside its partners, including Fubon Bank, one of the largest commercial banks in Taiwan.

What’s more, with the XRP Ledger decentralized blockchain that has been continuously operating for over 10 years, by leveraging the power of blockchain technologies, citizens of Hong Kong can experience the release of equity faster and more efficiently, and commercial banks can expect to benefit from the higher velocity of loan throughput and more flexible payments.

James Wallis, Ripple’s Vice President of Central Bank Engagements & CBDCs, said:

It’s a huge honor for Ripple to be

Go to Source to See Full Article
Author: Ronaldo Marquez

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details