Zoniqx Collaborates with Ripple to Enhance Tokenization on the XRPL
Zoniqx, a renowned digital asset management expert formerly known as Tassets, has recently announced a strategic partnership with Ripple, a leading provider of enterprise blockchain and cryptocurrency solutions. This collaboration aims to revolutionize and streamline the tokenization process for real-world assets.
Zoniqx and Ripple are joining forces to enhance the tokenization process on Ripple’s XRP Ledger (XRPL). By integrating Zoniqx’s cutting-edge Tokenization Platform as a Service (TPaaS) and Tokenization Life Cycle Management (TALM) solutions with XRPL’s robust infrastructure, this partnership is set to mark a significant milestone in the evolution of digital asset management.
The primary objective of this partnership is to make the tokenization process on XRPL more efficient and accessible. It will support the representation of real-world assets on-chain using native XRP and issued tokens. The integration of XRPL’s fast, secure, and cost-effective blockchain infrastructure with Zoniqx’s advanced tokenization solutions aims to establish new industry standards.
Zoniqx’s integration with XRPL enables the tokenization of various real-world financial assets on the ledger. The platform offers a low-code conversion mechanism for transforming real-world assets into digital assets while ensuring compliance with local regulations through the Dynamic Interoperable Compliance Security Token Standard (DyCIST). Zoniqx’s Tokenization Platform as a Service (TPaaS) provides direct access to liquidity options, creating a dynamic and compliant environment for asset tokenization.
Token issuers can seamlessly connect with XRPL, offering users an intuitive interface to participate in asset tokenization. This includes features such as account creation, Know Your Customer (KYC) verification, and the submission of buy offers to receive tokens.
Prasanth Kalangi, the CEO and Founder of Zoniqx, expressed his excitement about the partnership, highlighting their commitment to setting new standards in the digital asset space. He believes that the combined efforts of Zoniqx and Ripple will ensure that asset tokenization is not only dynamic and compliant but also accessible to everyone, everywhere.
Tokenization is not limited to the finance industry but extends to asset management and traditional banking sectors as well. Blockchain technology enables the creation of stablecoins that offer faster settlement times, lower costs, and increased transparency in various areas such as merchant settlement, cross-border payments, and tokenized loyalty programs.
The asset management industry is undergoing a significant transformation, with many industry leaders recognizing the revolutionary potential of tokenization. This aligns with the findings of Ripple’s 2023 New Value Report, where more than half of global finance leaders expressed their intentions to incorporate digital asset custody within the next three years.
Markus Infanger, the SVP of RippleX, emphasized the importance of Zoniqx’s integration with XRPL, stating that it represents a significant step towards enabling the Internet of Value. The integration of XRPL’s blockchain technology with Zoniqx’s pioneering tokenization services is expected to bring unparalleled efficiency and scalability to the world of asset tokenization.
As businesses prepare for a tokenized future, it is crucial for them to strategically plan and consider key elements that will lay the foundation for success.
Tags: Ripple (XRP)