BlackRock and Ripple Partnership Rumors Circulate Without Confirmation
Rumors suggest a potential partnership between BlackRock and Ripple to tokenize real-world assets on the XRP Ledger (XRPL). However, no official confirmation has been made by either party.
Key Points
- XRP influencers have shared rumors about BlackRock and Ripple collaborating on asset tokenization.
- BlackRock CEO Larry Fink mentioned plans for technology to tokenize funds, expanding crypto offerings.
- BlackRock's existing tokenized money market fund, BUIDL, operates on Ethereum.
- Ripple collaborated with Securitize to support BlackRock’s BUIDL using their RLUSD stablecoin.
- Ripple has upgraded the XRP Ledger, including launching the Multi-Purpose Token (MPT) standard to simplify tokenization.
Ripple's Strategic Moves
- Ripple acquired GTreasury for $1 billion to expand into corporate treasury markets.
- The acquisition aims to enable real-time cross-border payments using XRP as a bridge currency.
- Ripple is raising up to $1 billion to establish an XRP treasury company through a SPAC.
The current price of XRP is approximately $2.35, down over 2% in the last 24 hours.
