Ripple partners with Super How for the Axiology project to test and issue cryptocurrencies, including CBDCs and stablecoins, aiming to advance blockchain adoption in finance, particularly in Europe.
Key Points
- Ripple partners with Super How for the Axiology project, aiming to test and issue cryptocurrencies, including CBDCs and stablecoins.
- Super How brings expertise in crypto-related projects to build an infrastructure system for tokenized securities on the XRP Ledger.
- Ripple’s VP of Central Bank Engagements sees Axiology as a great opportunity for European banks to practice using CBDCs after EU’s regulatory adoption.
- The partnership fosters the adoption of blockchain tech in finance, supporting EU’s initiatives for transnational payments and settlements with digital currencies.
Ripple has announced a new partnership with Super How, a blockchain tech research lab, to work on the Axiology project. This collaboration aims to test and issue cryptocurrencies, including central bank digital currencies (CBDCs) and stablecoins. The goal is to build confidence among regulators, assuring them that these nascent assets are safe for all parties involved.
“@Ripple is delighted to be working with SUPER HOW? and the Axiology decentralized securities project…”
Instant issuing and settlement of tokenized securities assets – such as a bond or share.
The private blockchain project is regulatory-compliant.
“This project will… pic.twitter.com/1lDqq12afw
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) July 21, 2023
Super Brings its Expertise
Headquartered in Lithuania, Super How brings its expertise in cryptocurrency-related projects to Ripple. The Axiology project, built on the XRP Ledger, focuses on creating an infrastructure system for trading and settling tokenized securities. It allows for multiple layers of the current capital market infrastructure to coexist on a single tech layer, enhancing efficiency and opening up new business models. This partnership with Super How and Axiology will help Ripple advance the adoption of blockchain technology in the finance sector.
James Wallis, Ripple’s VP of Central Bank Engagements, expressed his enthusiasm for the collaboration, emphasizing the importance of CBDCs and stablecoins in settling tokenized securities. With the European Union’s recent adoption of the DLT Pilot Regime Regulation, Axiology presents a great opportunity for European banks to practice issuing and utilizing CBDCs.
The EU has introduced the Digital Financial Package, along with the MiCA regulation, to prevent fraud activities and promote the adoption of cryptocurrencies and CBDCs. This package aims to encourage the use of digital currencies for transnational payments and accelerate settlement times. The Blockchain Pilot Regime, a sandbox for testing crypto- and CBDC-based payments and settlements, plays a significant role in this initiative.
End Point
With the collaboration between Ripple and Super How, the Axiology project will provide new use cases for businesses to utilize tokenization and cryptocurrencies on the XRP Ledger. By partnering with Super How and contributing to the Axiology project, Ripple Labs continues to spread innovative ideas and technologies to drive the adoption of blockchain in the finance industry.
Overall, this partnership between Ripple and Super How, along with the involvement in the Axiology project, brings new opportunities for the development of CBDCs, stablecoins, and tokenized securities. With the support of the EU’s regulatory initiatives, the adoption and integration of blockchain technology in the finance sector are poised for significant advancements.
