- Ripple and Axelar partner with Ripple to lead the Real World Asset Tokenization Market.
- VeChain has intensified its efforts to increase growth across all sectors, and seals an agreement that will make VET the medium of exchange for Oobit.
VeChain puts Ripple into fierce competition with IOTA as its supply-chain solution makes a mark on the Real-World Assets world. VeChain’s ecosystem on VeChainThor has revolutionized the real-world industry by enabling fast, secure transactions. It is interesting to note that HSBC, Northern Trust and other financial institutions estimate 5-10% tokenization of assets by 2030.
Ripple’s efforts in leading the RWA Industry
Ripple, with the recent integration of Axelar, also aims to dominate. reported Crypto News Flash. Drawing insight from that report, three other blockchains – Chainlink, and IOTA, currently remain another dominant force in the trillion-dollar market as they seek to attract a chunk of the market share. Ripple and Axelar would deploy decentralized cross-chain applications to the XRP Ledger via Axelar’s General Message Passing. RWA adoption on the XRPL would increase in the future.
David Schwartz is the Chief Technology officer at Ripple and he recently revealed that in the future, commodities such as real estate will form the basis of tokenization.
Real estate and commodities will be the driving force behind blockchain economics. Tokenized RWAs in XRP Ledger can improve collateralized loans and interoperability. They will also attract institutional adoption. financial sector. #XRPL, a leader in blockchain technology that enables these applications will become the leading platform.
VeChain accelerates growth with more collaborations
VeChain’s recent activities are focused on the entire ecosystem. The company just announced a partnership deal with Oobit – a popular mobile payment application – to integrate VET onto its platform. It was originally reported Crypto News Flash. The report states that the goal is for users to be able to use it in their daily transactions, while still fulfilling the ESG mission. Sunny Lu, VeChain CEO commented on this partnership.
VeChain looks forward to partnering with Oobit and combining our ESG commitment with Oobit’s innovative approach. VET’s integration into Oobit is more than a technical enhancement. It’s also a step in the right direction towards making blockchain technology synonymous to positive societal impacts.
The video highlights some of VeChain’s groundbreaking partnerships.
Recent Years reported by CNF, VeChain emerged as one of the high-profile organizations named in the AI & Blockchain Convergences Task Force. The taskforce was tasked to optimize understanding of ethical standards and improve them for safe and efficient AI use.
The task force’s goal is to generate strategic insights and recommendations that will help strengthen integration, enhance security and promote the ethical use of these transformational technologies. Positioned to navigate this intricate landscape, the AI & Blockchain Convergences Task Force champions understanding, ethical standards, and visionary innovation.
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Source: www.crypto-news-flash.com