Ripple News: XRP Market Update

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The past few days saw Ripple expand its institutional infrastructure, while its native cryptocurrency XRP continued to defend the crucial $1 support region. Here are the most important news to follow.

Ripple announced yet another expansion of its institutional digital asset strategy. In fact, the past seven days were rather packed with ecosystem updates.

All of it happened as XRP traded near $1.07 following a few unsuccessful recovery attempts, but more on that later. Now, let’s dive into the most important and recent Ripple news.

Ripple Invests in ZILO and Licuido
Undoubtedly the week’s largest ecosystem development was Ripple’s investment in ZILO and Licuido – two companies building infrastructure for digital investment funds and trading of institutional assets. Ripple did not disclose the size of either of those investments.

ZILO provides transfer agency and fund administration technology for tokenized share classes. It sounds fancy and tech, but the important part is that it fits well into Ripple’s plans to become the preferred international settlement layer for both retail and institutions. Conversely, Licuido operates a platform that supports the issuance, distribution, trading, and use of traditional assets as digital collateral. The important bit here is that it’s regulated in the United Kingdom.

Ripple plans to connect those services with its existing XRP Ledger infrastructure. The goal is to let institutions issue tokenized assets, transfer them between investors, hold them in custody, and use them as collateral. RLUSD could provide the settlement side of the transactions, allowing assets and payments to settle together and instantly.

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