XRPL surpasses 2.8 billion flawless transactions – Major institutions are taking notice!

• XRPL has seen rising institutional adoption and tokenization growth lately
• RLUSD stablecoin and AMM enhance XRPL’s role in DeFi and cross-border payments

Ripple is in the news after it reportedly reached a settlement with the U.S Securities and Exchange Commission (SEC), following the agency’s unconditional withdrawal of its appeal last week.

This development adds to the wave of positive momentum around XRP.

XRP Ledger gains traction

Meanwhile, the XRP Ledger (XRPL) continues to strengthen blockchain innovation, having processed over 2.8 billion transactions without a single security failure. In fact, recent data from CryptoQuant indicated a resurgence in XRPL activity since 23 March – Reversing a prior decline observed since 19 March.

Owing to the same, XRP was trading just below $2.40 on the charts, up by just over 1% in the last 24 hours.

Ripple’s execs weigh in

The recent surge in XRP activity came on the back of remarks from Jasmine Cooper, RippleX’s Head of Products. She stressed on XRPL’s efficiency as a key factor attracting institutional investors.

With its speed and reliability, XRPL is also becoming a preferred choice for asset issuers and institutional players.

OpenEden, for instance, has achieved significant milestones in tokenizing U.S Treasury bills on the platform, offering institutional investors access to on-chain financial instruments. Additionally, BlackRock, a global asset management giant, is actively exploring asset tokenization, further aligning with XRPL’s growing role in the evolving digital finance landscape.

Remarking on the success of XRPL, Cooper, in a podcast with Tony Edward, noted,   

“SockGen, for example, that are interested in issuing stable coins on the XRP ledger to asset managers that are participating with some of the tokenization platforms. There’s been, you know, Aberdeen has issued certain money market funds through Archax, which is a tokenization provider on the XRP ledger. So, I think there’s a wide range from banks to asset managers that are starting to discover the value of tokenization and of XRPL in particular.”

The exec went on to say, 

“So, RLUSD is doing well. Adoption has been rapid. You know, there’s support in a variety of different centralized exchanges. Market cap is rapidly growing. So I think we’re excited about it.”

What’s more?

Cooper further shed light on XRPL’s expanding ecosystem. She stated that it is setting the stage for broader adoption, driven by advancements in DeFi and cross-border payments. Finally, she noted how the introduction of the Automated Market Maker (AMM) has enhanced on-chain trading and liquidity, reducing reliance on centralized exchanges.

RippleX’s efforts to integrate an Ethereum Virtual Machine (EVM) sidechain that aims to attract developers by enabling Ethereum-based smart contracts while leveraging XRPL’s efficiency is also gaining traction.

That being said, the launch of RLUSD, Ripple’s new USD-backed stablecoin, has further strengthened the network’s utility. Particularly in cross-border transactions.

Therefore, if RLUSD secures regulatory approval and gains institutional traction, XRPL’s adoption could accelerate, positioning it as a key player in blockchain finance.