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Monica Long, President of Ripple, joined the conversation regarding the mainstream adoption of tokenization offerings by banks. According to For Long, many banks are already embracing cryptocurrencies, but others could jump on the bandwagon with the right regulation.
XRP Ledger and tokenization engine
According to Monica Long, 15 of the 25 largest banks globally have already piloted tokenized asset projects. This comment was made in direct response to Frank Chaparro, an industry media personality. He noted that holding cryptocurrencies stands between banks and their ability to do anything else in the industry.
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Monica Long agreed with this position, and expects many banks to launch market-ready offerings in the US in 2025. However, she pointed to a key condition for this to happen, including whether or not the next US administration will give the required clarity to the bank. Crypto industry.
From current indications, the new role of crypto czar David Sachs has given rise to many personalities in the industry Confidence in positive policy changes.
Although not specifically mentioned, Monica Long's comment subtly shifts the focus to the XRP Ledger and how Ripple Labs can benefit from the expected future. The payments company is keenly interested in driving the cross-tokenization agenda XRP LedgerWith Archax partnership.
The company is positioned to capitalize on this mainstream adoption trend with its latest product developments.
Location of the stablecoin RLUSD
One of Ripple Labs' most important product offerings to push the tokenization agenda is Stablecoin RLUSD. Launched in December, the company sees this as a way to boost real-world adoption (RWA) – while boosting liquidity of RLUSD.
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To date, the stablecoin has gained widespread acclaim, breaking important adoption milestones on top global exchanges. Its scope also extended to various regions, including Singapore, via the independent reserve.
With RLUSD, Ripple hopes to play a vital role in banks' embrace of cryptocurrency products.
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