Ripple to bring hundreds of millions of dollars worth of RWA assets to XRP Ledger through partnership with Archax

PANews reported on June 13 that according to the official blog, Ripple announced that it has expanded its existing cooperation with Archax, a digital asset exchange, broker and custodian regulated by the UK Financial Conduct Authority, and is expected to introduce hundreds of millions of dollars of tokenized real-world assets (RWA) to XRP Ledger (XRPL) in the next year. Archax works with multiple financial institutions to help them tokenize financial RWA. Through this collaboration, financial institutions will be able to choose XRPL to tokenize their RWA, creating opportunities for numerous downstream use cases of these assets.

The agreement represents an evolution of the relationship between Ripple and Archax, which was established in 2022 when Archax partnered with Metaco to provide digital asset custody services to its customers. Metaco was acquired by Ripple in mid-2023.