Zoniqx & Ripple to bring Multi-Asset Tokenization onto the XRP Ledger

Zoniqx to integrate its Tokenization-Platform-as-a-Service with the XRPL
PRNewswireFebruary 23, 20244 min

Zoniqx (formerly known as Tassets) a pioneer in digital asset management, announced its partnership with Ripple, an enterprise blockchain and crypto solutions provider. This strategic collaboration harnesses the robust, scalable infrastructure of the¬†XRP¬†Ledger (XRPL)¬†and seamlessly integrates it with Zoniqx’s cutting-edge Tokenization Platform as a Service (TPaaS) and Tokenization Life Cycle Management (TALM) solutions.¬†Tokenization improves access to¬†an asset class by reducing traditional barriers to entry, lowering costs and eliminating geographical boundaries.

The partnership aims to streamline the tokenization process for real-world assets on XRPL, which supports native (XRP) and issued tokens to represent assets on-chain, making the process more efficient, accessible and liquid in the digital asset market. By leveraging XRPL’s fast, safe and low-cost blockchain infrastructure alongside Zoniqx’s state-of-the-art tokenization and digital asset lifecycle management offerings, the integration seeks to redefine industry standards and facilitate the seamless digital conversion of traditional assets on-chain.

Revolutionizing Asset Tokenization on the XRPL

Zoniqx’s integration with the XRPL will allow the tokenization of multiple real-world financial assets on the XRPL and offers a low-code conversion of real-world assets into digital assets. Zoniqx’s tokenization platform as a service TPaaS) ensures compliance with local jurisdictions by leveraging the Dynamic Interoperable Compliance Security Token Standard (DyCIST) standard and provides direct access to liquidity options.

Token issuers can seamlessly integrate with the XRPL and experience an intuitive interface for primary users to participate in asset tokenization. Users can easily create accounts, complete Know Your Customer (KYC) verification, and submit buy offers to receive tokens, thereby enhancing accessibility and liquidity in the digital asset market on the XRPL.

CEO and Founder of Zoniqx,¬†Prasanth Kalangi¬†said: “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.”

Markus Infanger, SVP of RippleX¬†said: “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.”

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