In an moving throwback, Ripple CTO David Schwartz shared a a range of use case of XRP Ledger (XRPL) from 2013, providing a reflect about into its early days.
In response to a tweet by X person Zach Rector, who highlighted the aptitude for tokenized metals on XRPL, Schwartz printed a non-public journey from 2013, showcasing the ledger’s versatility even in its early years. XRP Ledger first launched in June 2012, on the different hand, pattern work commenced in 2011.
Rector posted about tokenized metals on XRPL, that are fully redeemable, and asked if every other blockchain does this but. This precipitated Schwartz to fragment his story of redeeming physical silver through XRP Ledger.
I redeemed silver dimes on XRPL in 2013. I preserve them nearby for luck.
— David “JoelKatz” Schwartz (@JoelKatz) December 21, 2024
The Ripple CTO talked about how he redeemed silver dimes on XRPL in 2013, explaining the process in accordance with but every other X person: “A guy has a giant bunch of silver dimes. So he created a gateway. You send him dimes and he gives you a DYM steadiness on the ledger. I equipped DYM for XRP and redeemed it for a roll of silver dimes.”
This early demonstration of tokenization on XRPL highlights the platform’s ability to bridge digital and physical resources. Whereas tokenization is now a buzzword in this day’s crypto landscape, Schwartz’s narration may perhaps counsel that the conception that has been phase of XRPL’s DNA since its inception.
11 years after
Now 11 years later, XRPL continues to adapt with parts in conjunction with automatic market makers (AMMs) and enhanced programmability.
In June of this year, Ripple and Archax announced an extension of their existing collaboration, expected to bring a entire bunch of hundreds of thousands of dollars of tokenized accurate-world resources (RWAs) onto XRP Ledger (XRPL) over the following year, establishing XRPL as one of many leading blockchains for RWA tokenization.
Final month, Ripple announced the open of the fundamental tokenized money market fund on XRP Ledger through the Archax collaboration, comprising asset supervisor Abrdn’s $4.77 billion (3.8 billion British kilos) U.S. buck liquidity fund.
Ripple USD (RLUSD) went are dwelling on global exchanges Dec. 17, 2024, marking a fundamental milestone for Ripple and the XRP neighborhood. Issued on XRP Ledger and Ethereum, the Ripple USD stablecoin heralds a new chapter for XRP Ledger.
