Ripple announced yesterday that a tokenized money market fund has been launched on Ledger. This has been made possible through a partnership with Archax, the first FCA-regulated digital asset exchange, broker and custodian.
In a press release, Ripple stated the fund is a tokenized version of UK asset manager abrdn's Liquidity Fund (Lux), and is the first of its kind on the XRP Ledger.
According to Ripple, Duncan Moir, senior investment manager at abrdn, leveraging the efficiency of on-chain investment and cash settlement processes will bring real benefits.
RippleX senior vice president Markus Infanger added that real-world asset tokenization will not only improve operational efficiency, but also offer utility on a large scale.