Ripple to be integrated into tokenized money-market funds from BlackRock
BlackRock’s $2 billion Institutional Digital Liquidity Fund (BUIDL) is expanding onto the XRP Ledger (XRPL). Ripple and tokenization platform Securitize have been named as the key partners driving the integration, which is to be executed through a new RLUSD smart contract. The timing of the expansion is significant, coming just as XRPL has reached a new milestone of more than 5.6 million accounts. With the new smart contract, BUIDL investors can directly swap tokenized shares for RLUSD at any time. Also integrated with VanEck’s tokenized money-market fund, the stablecoin is backed 1:1 with liquid reserves and issued under a New York Department of Financial Services (DFS) trust charter. How do you unlock real-time liquidity for institutional assets? With $RLUSD. https://t.co/2TvkEmSKTk Our new partnership with @Securitize will allow holders of @BlackRock's $BUIDL and @VanEck_US's $VBILL to instantly exchange their shares for $RLUSD, thereby p...