Source: Cointelegraph Original: "{title}"
Ripple's Chief Technology Officer David Schwartz stated that Ripple's acquisition of the major brokerage Hidden Road for $1.25 billion is a "defining moment" for the blockchain payment company, potentially unlocking more use cases for the XRP Ledger (XRPL) in institutions.
“Ripple's acquisition of Hidden Road is a defining moment for the XRP Ledger and XRP,” Schwartz said on social media on April 8.
Hidden Road is a major brokerage and credit network with over 300 institutional clients. On a typical trading day, it clears more than $10 billion through traditional payment channels, processing over 50 million transactions.
“Now imagine a portion of these activities taking place on the XRP Ledger—that's exactly what Hidden Road plans to do—not to mention the future tokenization of collateral and real-world assets on the XRPL,” Schwartz said.
Source: Ripple
Ripple has long claimed that the XRP Ledger is a scalable platform for real-world assets (RWAs) and partnered with cryptocurrency exchange Archax to launch a tokenized money market fund last November.
However, so far, tokenization on the XRP Ledger has been minimal. Industry data only tracks two RWAs on the XRP Ledger, valued at approximately $50 million.
The XRP Ledger has yet to emerge as a tokenization platform. Source: RWA.xyz
The value of on-chain RWAs has increased by 9.2% in the past 30 days, contrasting sharply with the general downward trend in the cryptocurrency market due to global growth concerns and tightening financial conditions. During this period, according to RWA.xyz, the number of asset holders increased by 6.2%.
Analysts in the traditional financial industry expect that tokenized RWAs will become a multi-trillion dollar market by 2030, driven by the vast addressable market of bonds, commodities, stocks, real estate, and M2 money supply.
Various estimates suggest that the value of tokenized securities could reach at least $20 trillion by 2030. Source: Tokenized Asset Coalition
Some of the world's largest companies have begun experimenting with asset tokenization, with the Chicago Mercantile Exchange Group (CME Group) and Google recently partnering to explore how Google Cloud Universal Ledger can enhance capital market efficiency.
Prometheum CEO Aaron Kaplan recently told Cointelegraph that the regulatory conditions in the U.S. have matured to allow tokenization to truly take off. The biggest barrier to adoption is the lack of a secondary market for buying and selling tokenized assets. However, this situation may change soon as crypto-native companies and traditional brokerages compete for market share.
Related: Ripple acquires crypto-friendly brokerage Hidden Road for $1.25 billion
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