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Ripple and Zoniqx partner to enhance real-world asset tokenization on XRP Ledger

By:
on Feb 23, 2024
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  • Zoniqx collaborates with Ripple to introduce multi-asset tokenization on XRPL.
  • Token issuers can integrate with XRP Ledger and participate in asset tokenization.
  • Tokenization means representing real-world assets as virtual units on a blockchain.

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Fintech platform Zoniqx and Ripple have joined forces in a move targeted at streamlining real-world asset (RWA) tokenization on the XRP Ledger.

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The initiative will use XRPL’s robust infrastructure and Zoniqx’s top-notch digital asset management and tokenization to transform industry standards and ensure the smooth conversion of traditional on-chain assets.

Asset tokenization refers to the digital representation of real-world assets on a blockchain, ensuring smooth entry to an asset class by lowering associated costs, eliminating traditional barriers, and alleviating geographical restrictions.

Zoniqx founder and CEO Prasanth Kalangi commented on the recent Ripple collaboration, stating,

“Our combined efforts will ensure the tokenization of assets is not only dynamic and compliant but also accessible to everyone, everywhere.”

Transforming tokenization participation on XRPL

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Zoniqx and Ripple integration will enable the tokenization of several traditional assets while ensuring a low-code digital conversion of real-world assets. Zoniqx offers access to different liquidity options in compliance with local jurisdictions.

Meanwhile, token issuers can onboard the XRP Ledger and enjoy a high-end interface for users to partake in asset tokenization. They only have to create and verify their accounts to receive tokens, improving accessibility and liquidity within XRPL’s digital asset marketplace.

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