Ripple, Archax, and abrdn Launch First Tokenized Fund on XRP Ledger

Nov 25, 2024, 11:06 AM

Ripple, in collaboration with Archax and abrdn PLC, has launched the first tokenized money market fund on the XRP Ledger. This initiative marks a significant step towards integrating traditional finance with blockchain technology, aiming to unlock cost savings and settlement efficiencies by deploying capital markets on the XRP Ledger. The fund, managed by abrdn, has a value of $3.8 billion, showcasing Ripple's growing influence in blockchain-based financial solutions.