Ripple, the company behind XRP, has revealed its plans to revolutionize the real estate industry through tokenization. The blockchain company is making strong strides for global adoption amid the ongoing SEC litigation.
Ripple executive confirms that the company will head into the real estate sector
Blockchain technology company Ripple Labs announced in June its initiative to transform the real estate industry using tokenization. In hot development, Antony Welfare, the company’s CBDC advisor, reports that they are actively exploring practical applications.
In a tweet on July 7, Welfare highlighted the growing global interest in CBDCs and stablecoins. He said the Ripple team will focus on tokenizing real estate assets at this point. According to Welfare, Ripple is currently actively exploring practical applications for stablecoins.
Welfare presented a use case at a fintech conference in Romania that combines digital Hong Kong dollars (e-HKD), tokenized real estate and financial loan protocols. This innovative pilot program is aimed at allowing users to tokenize real estate assets and use them as collateral for loans using Ripple’s CBDC platform.
Ripple seeks to overcome existing barriers in the real estate industry while researching the tokenization of real estate assets and using blockchain and digital currencies.
Ripple launches CBDC platform
Ripple, the driving force behind XRP, is not giving up despite an ongoing legal dispute with the SEC. It has recently launched a platform that can leverage the potential of XRP.
In a notable move, Ripple recently announced the Ripple CBDC Platform. This platform will be an innovative solution that appeals to central banks, governments and financial institutions. It will also empower banks and governments to create and deploy CBDCs.
Also, the platform will leverage the power of the same Blockchain technology that underpins the XRP Ledger (XRPL). Through this advanced platform, users can seamlessly manage and adapt the entire lifecycle of fiat-based CBDCs, including transactions and distribution.
While the specific role of XRP in the Ripple CBDC Platform has not been clearly stated, the latest announcement has ignited optimism regarding XRP. Positive responses indicate that this development has generated positive sentiment towards XRP.
XRP addresses become active after the latest news
According to Santiment, XRP has experienced a notable increase in active addresses over the past few weeks. Its chart shows that this increase in active addresses started at the end of May. It also revealed that it witnessed more increases in June. Thus, active addresses reached an all-time high.
Initially, the average number of active addresses was around 1 million, but a clear upward trend has emerged. This brought the average to about 1.1 million. At the time of this writing, the number of active addresses exceeded 1.1 million, indicating that the growth continues.
cryptocoin.com As we have reported, analysts continue to keep the bar high for XRP.
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