Zoniqx, formerly known as Tassets and a master in digital asset management, has announced a strategic partnership with Ripple, a leading enterprise blockchain and crypto solutions provider. This partnership aims to streamline and enhance the tokenization process for real-world assets.
Zoniqx and Ripple’s Ambitious Collaboration
Zoniqx’s cutting-edge Tokenization Platform as a Service (TPaaS) and Tokenization Life Cycle Management (TALM) solutions will seamlessly robust infrastructure of the XRP Ledger (or XRPL), which is deemed to mark a significant milestone in the evolution of digital asset management.
The partnership aims to streamline the tokenization process on XRPL, supporting native XRP and issued tokens to represent real-world assets on-chain. This initiative is expected to enhance the efficiency, accessibility, and liquidity of the digital asset market. Integrating XRPL’s fast, safe, and cost-efficient blockchain infrastructure with Zoniqx’s advanced tokenization solutions seeks to set new industry standards.
Revolutionizing Asset Tokenization
Zoniqx’s integration with XRPL allows the tokenizing of multiple real-world financial assets on the ledger. The platform offers a low-code conversion of real-world assets into digital assets, ensuring compliance with local jurisdictions through the Dynamic Interoperable Compliance Security Token Standard (DyCIST). Zoniqx’s Tokenization Platform as a Service (TPaaS) provides direct access to liquidity options, creating a dynamic and compliant environment for asset tokenization.
Token issuers can seamlessly integrate with XRPL, providing users with an intuitive interface for participating in asset tokenization. This includes account creation, Know Your Customer (KYC) verification, and the submission of buy offers to receive tokens.
CEO and Founder of Zoniqx, Prasanth Kalangi, expressed enthusiasm about the partnership, stating, “Joining forces with Ripple is a testament to our commitment to setting new standards in the digital asset space. Our combined efforts will ensure the tokenization of assets is not only dynamic and compliant but also accessible to everyone, everywhere.”
Tokenization for higher Studies. Industries
Blockchain technology enables tokenization in finance, asset management, and traditional banking sectors. Stablecoins powered by blockchain are gaining traction, offering faster settlement times, lower costs, and enhanced transparency in merchant settlement, cross-border payments, and tokenized loyalty programs.
Asset management funds are undergoing a significant shift, with a substantial percentage of industry leaders acknowledging the revolutionary potential of tokenization. This sentiment aligns with the broader trend identified in Ripple’s 2023 New Value Report, where over half of global finance leaders expressed plans to utilize digital asset custody within the next three years.
Markus Infanger, SVP of RippleX, emphasized the significance of Zoniqx’s integration with XRPL, stating, “Zoniqx’s integration with the XRPL marks a significant milestone in the journey to enable the Internet of Value. By integrating XRPL’s fast, cost-efficient blockchain technology with Zoniqx’s pioneering tokenization services, the XRPL is poised to showcase unparalleled efficiency and scalability to the world of asset tokenization.”
As businesses prepare for a tokenized future, they must strategically plan for key elements that form the foundation of success.
