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While institutional interest in altcoins other than Bitcoin (BTC) and Ethereum (ETH) has increased, XRP has become one of these altcoins.
At this point, while many companies announced that they would add XRP to their treasury reserves, another move came from the Brazilian cryptocurrency exchange Mercado Bitcoin.
Mercado has announced a plan to tokenize real-world assets (RWA) such as Bitcoin, stocks, and bonds, Coindesk reported.
Accordingly, Mercado Bitcoin, as the largest crypto platform in Latin America, has chosen XRP Ledger among many alternatives in its digitalization journey.
Mercado Bitcoin has announced plans to tokenize an additional $200 million worth of stocks and bonds on the XRP Ledger (XRPL).
“This project is one of the largest RWA initiatives on XRP Ledger by a Latin American company.
We estimate the RWA market will grow to $19 trillion by 2033.”
It was stated that the high transaction speed, low cost structure, and built-in tokenization capabilities offered by XRPL make it an ideal option for companies and such projects.
The company has already tokenized assets worth 1 billion Brazilian reais ($185 million).
*This is not investment advice.
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