XRP Ledger, one of the oldest blockchains and the native platform of the XRP cryptocurrency, is a perfect technical foundation for real-world tokenized assets. Ripple’s CTO indicated the benefits of it and shared his estimates on the first RWA projects to be implemented on the XRPL mainnet.
“Next year, year and a half”: Ripple CTO on XRPL tokenization timeline
Real-world asset (RWA) tokenization projects could launch on XRP Ledger in the next year to year and a half. This statement was made by Ripple CTO David Schwartz in a video shared by the Flip The Chain team yesterday, October 13, 2023.
XRP Ledger can be a good platform for launching tokenization protocols thanks to low transaction fees and seamless integration with on-chain exchange mechanisms.
When interacting with real-world assets, users are particularly interested in being able to buy, sell, store and transfer them without relying on fiat currencies like the US dollar, Schwartz emphasized. As such, XRPL DEX will provide the necessary level of proximity for all market players.
As such, the first viable RWA protocols on the Ledger.
As U.Today previously reported, RWAs and the protocols involved in their operations are among the hottest crypto narratives for 2023.
New DeFi Designs Coming to XRP Ledger?
Meanwhile, the XRP Ledger community is awaiting the verdict from validators on the activation of the XLS-30d “XRPL AMM” proposal. If approved, it could add seamless non-custodial trading functionality to the XRP Ledger, making it another DeFi blockchain.
At the same time, the proposal has very little community support so far. At the time of publication, only two validators, Ripple itself and katczynski.net, supported the inclusion of the proposal in the rippled version v1.12.0.
This proposal needs 26/33 votes to be approved. So far it has only achieved 3.03% of the necessary voting power. Another important amendment, “Clawback,” which is crucial for XRPL to become compliant, received 15.5% support, or five “yeses” from validators.
