TechFlow news, Markus Infanger, Senior Vice President of RippleX, said traditional finance (TradFi) participants are finally starting to move financial assets on-chain. They are deploying into production and solving problems across various value chains, making the use of blockchain in TradFi finally viable.
Infanger noted that in-depth discussions with various financial institutions are underway, as they explore tokenization projects for issuing assets on the XRP Ledger. These companies already have distribution plans and can clearly articulate their use cases and how they intend to utilize the underlying blockchain.
Ripple recently announced plans to issue its own U.S. dollar-pegged stablecoin on both XRPL and Ethereum, which will serve institutional needs. Infanger further explained the motivation behind Ripple's stablecoin initiative, highlighting that the stablecoin market could reach $2.8 trillion within the next five years, compared to the current $22 trillion sitting offline.
Ripple has not yet determined when it will launch its stablecoin or what the token will be named on XRPL and Ethereum.
