Investment Manager Predicts XRP Will Dominate This Billion Dollar Industry
CEO of Canary Capital, Steven McClurgpredicted that XRP will become the leading token in real world assets (RWAs), which is thought to be a trillion-dollar industry. This came as he highlighted recent developments that put the altcoin on the path to dominate the industry.
Canary Capital CEO predicts XRP will dominate RWAs
In the middle the interviewthe investment manager has decided that XRP will be the leading token for real world assets, based on Ripple’s movement over the past two years. He noted that the crypto company has done a good job of integrating XRP Ledger (XRPL) in many exchanges and on Wall Street, which led to institutional takeovers.
The CEO of Canary Capital also noted that the XRP Ledger transports assets such as stablecoins, including The price of Ripple RLUSD stablecoinand other tokenized real-world assets. Notably, Ondo Finance has also tokenized its US fund of funds (OUSG) on XRPL, while Ripple has partnered with Securitize to add RLUSD access to BlackRock’s BUIDL fund.
In addition, Ripple has partnered with Archax and UK-based asset manager abrdn to launch the first tokenized money market fund on the XRP Ledger. There are also plans for the network to receive tokenized gold upgrades, as demand for the precious metal increases. It is also fitting that Ripple predicted earlier that the XRP Ledger could dominate the real estate industry, putting XRP at the heart of the sector, as McClurg also predicted.
Interestingly, McClurg’s prediction comes as XRP ETFs attract institutional investors to the altcoin ecosystem. These ETFs have been successful since their launch, recording a single net outflow since November. Coincidentally, McClurg’s Canary Capital is currently the largest XRP ETF issuer, with $374 million in total assets, according to the report. SoSoValue data.
New TradFi Ride Features on XRPL
Ripple again Developers of XRP Ledger continue to work to introduce new features to the network to attract traditional financial institutions (TradFi). Validator for XRPL Vet recently revealed that TradFi compliance features are coming to the network. This includes on-chain compliance tools such as KYC, AML, and other guarantees, which will be used by lending agreements, as well as the XRPL DEX and Allowed DEX.
Currently, Ripple developers also explained Allowed Domains, which are part of the patch, are like a game changer The XRP Ledger because they will bring institutional level controls to the public network, without sacrificing private chain transactions. The developers also noted that this will set the stage for financial institutions to participate in the flow allowed on a fast, scalable, and robust blockchain network like XRPL.
At the time of writing, the price of XRP is trading around $2.06, down from the last 24 hours, according to the report. data from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com
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