XRP Ledger (XRPL) Recognized by the World Economic Forum as a Key Technology for Tokenizing Assets

The XRP Ledger, or XRPL, has been acknowledged by the World Economic Forum (WEF) as one of the most important technologies for tokenizing assets

The World Economic Forum (WEF) has recognized the XRP Ledger (XRPL) for its role in tokenizing assets, specifically highlighting Aurum Equity Partners' $1 billion private equity and debt tokenized fund launched on the ledger.

In its May report, "Asset Tokenization in Financial Markets," the WEF pointed out that the private equity fund leverages the XRPL's decentralized Layer-1 blockchain technology to convert ownership of private equity into digital tokens.

Announced in October by Aurum, the fund supports data centers focusing on AI and ESG in the U.S., UAE, Saudi Arabia, India, and Europe. It utilizes Zoniqx's Tokenized Asset Lifecycle Management platform and the DyCIST protocol for efficient and compliant tokenization.

XRPL was selected for its speed, security, and low transaction costs, making it ideal for a digital fund.

The report also praised crypto custody technology provided by companies like Ripple, BitGo, and Metaco, which is crucial for financial institutions to navigate the regulatory landscape and support the new tokenized economy.

Highlighting the potential of the private equity market, the WEF noted that the global market is expected to grow from $5.3 trillion in 2023 to $7 trillion by 2030, with about 10% likely to be tokenized.

XRPL's role in tokenizing a $1 billion fund sets an example for others to follow, especially with institutions like BlackRock entering the crypto space and integrators like Metaco joining forces with Ripple to facilitate further tokenization efforts.