There’s a new on-chain token in town, and it’s not the one you’re thinking of.
While there exists a variety of “tokens” within the 21st-century payments and financial services landscape, with innovations ranging from cryptocurrency tokens to tokenized payments, it is a third token, tokenized commercial bank assets — or deposit tokens — that are increasingly being embraced as liquid means of payment and stores of value in blockchain-native environments.
Ripple and Archax announced Thursday (June 13) that they extended their existing partnership, aiming to bring hundreds of millions of dollars of tokenized real-world assets onto the XRP Ledger. The move shows that meeting the demand for blockchain-native cash equivalents is top of mind for firms.
As the digital transformation of finance accelerates, the landscape of money is evolving rapidly and tokenized deposits represent an advancement in the…
