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- Experts foresee the real-world asset (RWA) tokenization market experiencing an uptick, with Ripple, Chainlink, and IOTA setting the pace.
- Ripple has gained an edge after tapping into a Canadian startup for RWA tokenization in the XRP Ledger (XRPL).
Ripple is edging higher to become the go-to platform for the trillion-dollar real-world asset (RWA) tokenization market. Ripple has announced its integration with Axelar, the programmable Web3 interoperability platform. Ripple is ready to challenge Chainlink and IOTA, who have focused on tokenization to onboard trillions of dollars in assets and capital, through its XRP Ledger (XRPL), which is setting the foundation.
Industry experts have shared conservative predictions of up to $5 trillion in tokenized digital-securities trade volume by 2030. With the benefits offered by blockchain technology, including decentralization, transparency, and low costs, the new class of assets holds great investment potential. Realizing the opportunity to attract this trillion-dollar industry, three blockchains; Chainlink, IOTA, and Ripple—are leading.
As CNF reported, the XRPL network will be integrated into a secure cross-chain infrastructure via a multi-signature contract with 32 Axelar validators to enable seamless tokenization. According to the announcement, the Axelar network will enable the deployment of cross-chain decentralized applications (Dapps) on the XRPL network, through Axelar’s General Message Passing (GMP). Consequently, the Axelar network will enable the adoption of Real-World Assets (RWA) tokenization on the XRPL network.
Chainlink is not taking this lying down. As CNF recently highlighted, the platform has recently partnered with global giants like Citibank, HSBC, and Goldman Sachs, leading the tokenization movement, which some reports estimate will hit $10 trillion by 2030. Chainlink’s Niki Ariyasinghe says that asset tokenization will be the biggest factor behind blockchain adoption and utilization, with major companies moving beyond testing to rollouts.
The launch of IOTA 2.0 promises to introduce technological advancements that propel the tokenization of real-world assets (RWA). The development team is actively involved in developing solutions and infrastructure to meet the increasing demand for the tokenization of real-world assets (RWA).
Predicting tokenization, the Chief Technology Officer at Ripple, David Schwartz, the CTO, believes that tokenization will be led by real estate and commodities, with XRPL offering enhanced collateralized loans and more.
Real World Asset (RWA) tokenization will drive the blockchain economy, led by real estate and commodities. Tokenized RWAs on XRP Ledger will enhance collateralized loans, improve interoperability, and attract institutional adoption, reshaping the financial sector. #XRPL will be a leading blockchain enabling these use cases.
Of note, last year, Ripple’s XRP Ledger (XRPL) became the first platform to welcome an innovative stablecoin backed by mortgages. Developed by the RWA protocol, this groundbreaking innovation revolutionizes the mortgage industry by unlocking new products for homeowners and other market participants.
With the market promising trillions, there is enough to go around, with Chainlink, IOTA, and Ripple getting a big piece of the action.
The three cryptocurrencies have enjoyed a bullish week, with Chainlink (LINK) adding nearly 20% in the last 7 days, IOTA adding 16%, and Ripple (XRP) about 15%.
