Ripple Labs Inks NEW Partnership Deal

February 27, 2024 8:12 pm Comments

Ripple Labs has inked a new partnership deal geared at improving multi-asset tokenization for the blockchain firm.

The blockchain company will be partnering with Zoniqx, a firm specializing in multi-asset tokenization, to bring real-world assets on-chain.

Analysts estimate total global wealth to equal roughly $454 trillion. All of that wealth could potentially be headed to the blockchain as investors, businesses, and speculators look to improve asset liquidity and the velocity of money.

Ripple appears to be the leading blockchain network exploring the possibilities of bringing real-world assets on-chain. Ripple X announced on Monday:

“Today, Zoniqx Inc. and Ripple are partnering to bring multi-asset tokenization onto the XRPLedger. This partnership aims to revolutionize asset tokenization on the XRPL, making it more efficient, accessible, and liquid in the digital asset market.”

Yahoo Finance went into further detail about the operations at Zoniqx:

Zoniqx, formerly known as Tassets, stands as a beacon in financial technology from Silicon Valley, specializing in Tokenization Platform as a Service (TPaaS).

It adeptly transforms Real World Assets into Digital Assets. The cornerstone of its offerings, the Tokenized Asset Lifecycle Management (TALM) solution, embraces the DyCIST – Dynamic Compliant Interoperable Security Token (ERC-7518) standard, ensuring utmost security and scalability.

Central to Zoniqx’s ecosystem is SecureConnect, a groundbreaking platform that seamlessly bridges asset tokenization with institutional liquidity, amplifying market reach and ensuring compliance.

This synergy positions Zoniqx not just as a provider but as an innovator at the forefront of digital asset transformation.

Wrath of Kahneman explained: “They also tokenize real estate and their big 2023 partner was Red Swan. Their tech powers Red Swan’s real estate token engine. Both carbon credits & real estate have been explored by Ripple, specifically, and RWA in general.”

According to Cryptopolitan:

With projections indicating that the tokenization market could reach $16 trillion by 2030, Ripple’s foray into this space, alongside financial giants like J.P. Morgan and Bank of America, underscores the potential of blockchain technology in revolutionizing asset management and investment.

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