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Ripple breaks again at the Asia market with a new one XRP -ProductWhat would help to stimulate institutional adoption. This step was taken in collaboration with Hashkey Capital, who has launched this fund to expand institutional access to the Altcoin.
Ripple invests in the XRP product of Hashkey
In one XHashkey Capital has announced that it is launching the first XRP tracker Fund of Asia with Ripple as an early investor. The asset manager noted that this step is an important step in expanding Institutional access to XRP.
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The company also stated that the XRP has chosen because the Altcoin is paramount in cross -border payments, thanks to the payment services of Ripple, and makes faster, cheaper and more efficient transactions possible than traditional systems, such as Swift. XRP also makes the tokenization of real world assets (RWAS) on its native blockchain, the XRP Ledger (XRPL). Hashkey added that financial institutions and companies worldwide already use XRP.
The asset manager also noted that the XRP Tracker Fund is his third tracker fund, according to his bitcoin and Ethereum Exchange-Traded Funds (ETFs). The company also increased the possibility of converting the fund into an ETF within the next one to two years, subject to approval of the regulations. This step will broaden the institutional access.
Outside the XRP Tracker Fund, Hashkey Capital And Ripple also work together to explore new investment products, cross-border Defi solutions and tokenization. This includes the potential launch of a money market fund (MMF) on the XRPL.
In the meantime, Ripple will sow the initial investment for the Tracker Fund. Hashkey stated that this fund with Ripple as an anchor investor marks a “deepening of collaboration” between two leaders in the blockchain room. The asset manager again confirmed that the aim is to bring more institutional capital in regulated XRP products and the wider ecosystem of digital assets.
Ripple continues to take steps to stimulate the adoption of XRP. The Crypto company recently approved the acquisition Prime Broker Hidden Road For $ 1.25 billion, one of the largest deals in the crypto history. Because of this acquisition, the Crypto company XRP and the usefulness of the RLUSD wants to stimulate because it wants to leave its mark in both traditional financial (trandfi) and the decentralized financial space (Defi).
XRP is said to play an important role in the plans of the Federal Reserve
In an X message, Crypto commentator Cryptogeek claimed that the Federal Reserve has officially hinted that they can use XRP to power the blockchain component of their FedNow system with power. Cryptogeek added that this came after several rumors of meetings with Ripple. However, the FED does not yet have to make an official statement about this development.
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Ripple will undoubtedly make progress with obtaining financial institutions, in particular American banks, to hire its payment service that facilitates XRP. The Crypto company is almost clear with its lawsuit against the American SEC, as the court recently granted a joint movement To pause the appeal case while they complete their settlement. As such, with the long -term legal battle almost from the way, these institutions will be more inclined to work with Ripple.
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