According to CoinDesk, private equity firm Aurum Equity Partners announced the launch of a $1 billion tokenized equity and debt fund on the XRP Ledger network. The fund focuses on data center investments in the United States, UAE, Saudi Arabia, India and Europe.
The fund uses technology from San Francisco-based tokenization service provider Zoniqx to create security tokens of underlying financial instruments. This marks an important milestone for XRP Ledger and Ripple Labs in the field of tokenization of real-world assets.
Ripple is also waiting for New York state regulators to approve its launch of a dollar stablecoin to improve liquidity and support institutions to tokenize and settle financial assets on the XRPL network, Ripple Labs President Monica Long said at the companyâs annual Swell conference.
David Schwartz, Ripple CTO and co-founder of XRP Ledger, said tokenized private equity is an emerging use case for RWA, and leveraging XRPLâs efficient and secure transaction processing capabilities, Aurum and Zoniqx demonstrate how real-world assets can be managed more efficiently.
