Ripple announced two new strategic investments as the blockchain-focused fintech seeks to expand access to tokenized financial assets on its blockchain ledger.
The company said it made strategic investments in Zilo, which provides global transfer agency asset solutions for wealth managers, and in Licuido, a tokenization solutions provider regulated by the UK Financial Conduct Authority, according to a Monday announcement.
Financial details for the investments were not provided. UK-based Zilo has raised $58.7 million in total equity funding, according to data compiled by Traxcn. Licuido is also based in the UK.
Ripple expects these deals to bring regulated transfer agency, issuance, and collateral mobility to its XRP Ledger (XRPL) infrastructure.
Combining the investments aim to help Ripple address the issues tied to idle collateral by enabling tokenized funds to be used as collateral from the point of issuance. The announcement came a…
