According to BroadChain, at 00:16 on April 23, NewsBTC reported that BlackRock, Mastercard, Gemini, and Ripple recently completed a test, utilizing regulated stablecoins to settle card payments on the XRP Ledger. This move indicates that traditional financial giants are shifting from observing blockchain technology to practical application. The test focused on the stablecoin RLUSD, which is designed to help banks process payments with greater transparency and speed than existing systems.
Ripple executive Odelia Torteman revealed at a London industry forum that while many view XRP as a trading token, institutions like BlackRock and Franklin Templeton are seeing the underlying ledger as an institutional financial tool. The network is specifically built to handle cross-border transactions and the simultaneous transfer of multiple assets, featuring a built-in decentralized exchange and automated market maker. This enables large companies to trade and transfer value without complete reliance on traditional intermediaries.
In September last year, Franklin Templeton collaborated with Ripple and DBS Bank to introduce new lending and trading methods, utilizing tokenized money market funds to increase liquidity. By combining these tokens with regulated stablecoins, institutions aim to enhance capital efficiency and comply with regulations, building trust for large investors who are cautious about cryptocurrency market volatility.
Reports indicate that the technology is expanding into treasury product areas. Ripple partnered with Securitize to create a system allowing investors in BlackRock's BUIDL fund to convert their holdings into RLUSD. This setup, enabled by smart contracts, provides 24-hour liquidity, changing the traditional scenario where fund redemptions are limited by bank operating hours.
Data shows that the XRP Ledger is becoming the preferred choice for institutions requiring strict identity and compliance standards, using "trust lines" and specific tools to handle KYC requirements. As more institutions participate, the practical application of XRP is transforming: evolving from a speculative tool for individual traders to a technological liquidity medium for banks to conduct global, multi-form value transactions in seconds.