Aurum Equity Partners, a private equity firm, announced on Tuesday the launch of a $1 billion tokenized equity and debt fund on the XRP Ledger (XRP), an enterprise-focused blockchain associated with Ripple. The fund will concentrate on data center investments across the U.S., United Arab Emirates, Saudi Arabia, India, and Europe, and is described as the “world’s first combined equity and debt tokenized fund.”
Stay in the know on crypto by frequently visiting Crypto News Today
The fund utilizes technology from San Francisco-based tokenization provider Zoniqx to create security tokens representing the underlying financial assets. This launch is a significant step for XRP Ledger and Ripple Labs as they aim to capture a share of the growing real-world asset (RWA) tokenization market. Institutional investors are increasingly adopting blockchain technology to tokenize traditional financial products like bonds, credit, and equity, seeking operational efficiency and faster, 24/7 settlements. According to reports from McKinsey, BCG, 21Shares, and Bernstein, the RWA market could grow to trillions of dollars in the coming years.
CryptoCaster Quick Check:
Ripple is also awaiting approval from New York regulators to launch its U.S. dollar stablecoin, which will enhance liquidity and support institutions in tokenizing and settling financial assets on the XRPL network, Ripple Labs President Monica Long said at the company’s annual Swell conference.
David Schwartz, the chief technology officer of Ripple and co-creator of the XRP Ledger, stated that the tokenization of private equity represents a developing application within the realm of real-world assets (RWA), tackling challenges related to illiquidity and restricted market access.
He further emphasized that Aurum and Zoniqx are exemplifying the potential of XRPL’s secure and efficient transaction processing to improve the management of real-world assets on a decentralized blockchain platform.
We hope you found this article insightful. Before you go, please consider supporting CryptoCaster’s independent journalism.
In the world of media owned by billionaires like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase), influence over narratives surrounding cryptocurrency and Web3 often reflects their interests. CryptoCaster is different. With no billionaire backers or shareholder obligations, we are committed solely to public interest journalism, covering crypto advancements and institutional changes without profit-driven motives.
Unlike much of mainstream media, which can fall into neutrality traps that obscure the real impacts on retail investors, we’re guided by transparency and integrity. We are unafraid to take a stand in the ongoing struggle against fiat banking dominance and in support of the monetary innovation driven by crypto and Web3. Reporting on issues like FTX, Binance, and Ripple, we bring a bold, unfiltered outsider’s view on global financial disruption—free from the constraints of traditional media narratives.
CryptoCaster remains paywall-free, accessible to everyone, thanks to the support of readers like you. Your contributions keep us independent and help ensure that critical information on the crypto landscape reaches all. If you value our work, please consider supporting us with a one-time contribution starting at just $1 in Bitcoin or Ether, or even monthly if you’re able. Scroll down to find our wallet addresses and help keep CryptoCaster independent and thriving.
Thank you for your support,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
SOL – DLvdMu85dW6pZMhw2E4S3pp81qQQGpy5UcdTsFEFBu4b
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP