| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107408.8300000000 |
| ETH | $2440.1770000000 |
| BNB | $646.9593700000 |
| XRP | $2.1922460000 |
| ADA | $0.5666700000 |
| SOL | $151.0616000000 |
| DOGE | $N/A |
| DOT | $3.3867100000 |
| LTC | $86.9784000000 |
| LINK | $13.3816900000 |
Category: CRYPTO NEWS
The post Archax Integrates State Street and Fidelity Funds appeared on BitcoinEthereumNews.com. Ripple‘s partner, Archax, has made headlines by incorporating funds from State Street, Fidelity International, and Legal & General Investment Management (LGIM) into its tokenized real-world asset offerings. This development is set to initially launch on the XRP Ledger (XRPL), Hedera, and Arbitrum networks, leading to a notable increase in XRP’s price, which rose by 4% shortly after the announcement. What Funds Are Being Tokenized? The newly tokenized offerings available through Archax’s platform will include several significant funds. These encompass the State Street USD/GBP/EUR Liquidity LVNAV Funds, Fidelity ILF USD/Sterling/Euro Funds, and LGIM Sterling/USD/Euro Liquidity Funds, marking a robust step in the tokenization of financial assets. How Did XRP React to the News? In light of Archax’s announcement, XRP witnessed a swift 4% rise in value, bringing the trading price to around $1.14, fluctuating within a 24-hour range of $1.06 to $1.14. This surge reflects the market’s positive reception to the development. In a cooperative effort, Ripple and Archax joined forces in June to facilitate the introduction of tokenized real-world assets on the XRPL. Ripple’s CEO, Brad Garlinghouse, emphasized the company’s goal of establishing XRPL as a key player in RWA tokenization. Archax’s introduction of tokenized funds is set for networks like Hedera, XRPL, and Arbitrum. The funds include a variety of money market fund tokens representing clients’ assets. XRP’s value surged significantly following this strategic announcement. Archax’s initiative represents a progressive stride in the tokenization of real-world assets, igniting speculations about future developments from financial institutions in this rapidly growing market. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/archax-integrates-state-street-and-fidelity-funds
2024-11-21T03:20:06+00:00