Although institutional interest in altcoins other than Bitcoin (BTC) and Ethereum (ETH) has increased, XRP has become one of these altcoins.
At this point, many companies announced that they would add XRP to the Ministry of Finance’s reserves, but another move emerged from Brazil’s cryptocurrency exchange Mercado Bitcoin.
Mercado has announced plans to tokenize real-world assets (RWAs) such as Bitcoin, stocks and bonds, Coindesk reports.
Therefore, Mercado Bitcoin, the largest crypto platform in Latin America, has chosen the XRP ledger among many options in its digital journey.
Mercado Bitcoin has announced plans to add another $200 million worth of stocks and bonds to its XRP ledger (XRPL).
“This project is one of the largest RWA initiatives in the XRP ledger by a Latin American company.
The RWA market is estimated to grow to $19 trillion by 2033. ”
It was mentioned that the high transaction speed, low cost structure and built-in tokenization capabilities made it an ideal option for businesses and such projects.
The company has already tokenized 1 billion worth of assets worth Brazilian Reais ($185 million).
*This is not investment advice.
