Popular financial strategist and co-founder of Black Swan Capitalist Versan Aljarrah reveals how XRP holders can potentially own a piece of the global money supply.
According to Aljarrah, XRP holders could own a piece of the global money supply if the XRP Ledger (XRPL) becomes the primary infrastructure for tokenizing global economic assets. They include global currencies, debts, as well as physical and digital assets.
The financial strategist attached an image to the tweet showing that only a fraction of the global economy has been tokenized. Per the data, while $170 billion of the world’s economy has been tokenized, a whopping $1.64 quadrillion remains untapped.
Based on Aljarrah’s commentary, XRP holders could own a portion of the global money supply if these $1.64 quadrillion worth of assets are tokenized on XRPL.
I’m 30 years young and I’m involved in international #finance
Here’s a fact: If the global #economy, along with all currencies, #debt and assets, both physical and digital are being #tokenized on the #XRPLedger, then owning #XRP means owning a piece of the global money supply pic.twitter.com/ugdGXMGJtL
— Black Swan Capitalist (@VersanAljarrah) August 12, 2024
U.S. Treasury Bills Tokenized on XRPL
Aljarrah’s assertion comes less than two weeks after prominent tokenization platform OpenEden launched tokenized U.S. Treasury Bills (T-Bills) on XRPL.
As reported earlier, these tokenized T-Bills are backed by the U.S. Treasury’s reverse repurchase agreement and short-term government debt obligations. Interestingly, Ripple showcased its support for OpenEden’s TBILL tokens by investing $10 million in the project.
This investment is part of the company’s effort to encourage tokenizing more real-world assets (RWA) on XRPL.
Ripple Positioning XRPL as Favored Platform for RWA Tokenization
The tokenization of real-world assets is gradually gaining momentum in the crypto industry. This initiative enables the issuance and management of traditional real-world assets on the blockchain, including public and private ones.
Interestingly, the tokenization of real-world assets is considered more efficient than the traditional practice. As this practice gains traction, Ripple is making substantial steps to position XRPL as the leading blockchain platform for RWA tokenization.
Ripple’s CTO David Schwartz shared this vision in October 2023, emphasizing that XRPL would become the favorite blockchain platform for RWA tokenization within 18 months. According to Schwartz, exciting features like low transaction fees make XRPL the suitable blockchain infrastructure for the tokenization of RWA.
Eight months later, Ripple expanded its partnership with UK-based exchange Archax to tokenize RWA worth millions of dollars on XRPL. Earlier this month, XRPL welcomed tokenized U.S. Treasury Bill, backed by short-term government bonds.
