Cryptocurrency veteran Austin King, who sold his company to Ripple in 2019 and worked at Decacorn for two years, shares his insight on the next stages of growth for Ripple and the XRP Ledger. The acquisitions of Metaco and Standard Custody, along with the upcoming launch of the Ripple USD (RLUSD) stablecoin, highlight that B2B tokenization is a focus for Ripple.

Ripple is betting big on tokenization with the launch of RLUSD and massive acquisitions

Asset tokenization and interoperability services for banking institutions will be the focus of Ripple in the near future. This analysis was shared by Austin King, founder of Omni Network, who completed the exit of his startup to Ripple in 2019. After the exit, King worked at Ripple from 2019 to 2021.

Last year, Ripple invested more than $250 million in its acquisition strategy. Specifically, the company acquired Metaco and Standard Custody to integrate them into the Ripple Custody suite of solutions.

Also, Ripple released the mainnet version of Ripple USD, its NYDFS-regulated stablecoin pegged to the US dollar. Austin King emphasized that the asset itself is an example of a remarkable achievement for the Ripple token.

These two transactions will amplify each other as Ripple will likely tokenize assets on the XRP Ledger to benefit from tokenization fees and transaction fees.

It should be noted that Ripple has already used a similar scheme with its B2B-focused “on-demand liquidity solutions.” The XRP Ledger and its flagship asset, XRP, have been integrated into the suite of cross-border transfer services.

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At the same time, Ripple's ambitions may go beyond the XRP Ledger as it is able to expand banks' token offering to more blockchains.

King rates this multi-chain tokenization platform as a game-changer in digital assets for businesses:

Ripple bought my first company that was focused on interoperability. With my current company Omni, I would like to support XRP Ledger's opportunity to expand the bank's token assets across all chains. This is a 100x opportunity in this cycle, and we are very focused on it.

As previously covered by U.Today, in 2019, Ripple acquired King's Strata Labs via its Xpring unit. The startup was among the group's first interoperability projects in the 2017-2021 cryptocurrency cycle.

XRP, XRPL's base coin, rose 7.8% in 24 hours. It is trading at $2.56 on major spot exchanges.

The market cap of the stablecoin RLUSD is $53 million.