XRP Ledger Moving Towards Tokenizing Real-World Assets (RWA)

The Technical Director of Ripple, David Schwartz, recently revealed that the XRP Ledger (XRPL) is venturing into tokenizing real-world assets, garnering interest from renowned entities such as JPMorgan and Bank of America. In a recent interview, Schwartz expressed satisfaction in the increasing focus on the technology underlying the XRP Ledger, steering away from sole fixation on XRP, its gas token.

Schwartz emphasized that while XRP remains a token for market participants to buy, store, and transfer, the real intrigue lies in the foundational technology of the XRP Ledger. He highlighted the unique nature of XRPL as an early-stage blockchain, notably distinct from Bitcoin-based technology in the 2011/2012 period.

Acknowledging the growing institutional adoption of XRP Ledger technology, Schwartz attributed the surge in interest and expansion to the network's legacy. He affirmed that the initial architects, including himself, designed XRPL for corporate finance, applications, and cross-border payments.

Schwartz noted their early pursuit to encourage enterprise adoption akin to Bitcoin and the necessity to establish bridges, connections, and other pivotal technologies. Expressing enthusiasm for delving into real asset tokenization, he emphasized XRPL's capability to effectively address the challenge of tokenizing real-world assets.

Anticipating the tokenization industry to reach $30 trillion by 2030, Anthony Welters, Ripple's CBDC advisor, highlighted Ripple's ambition to transform the real estate industry through tokenization. In previous interviews, David Schwartz reiterated the desire for XRPL to serve as a platform for tokenized real assets, citing its attractive features, including low fees.