Gemini Expands XRP Ledger Support in Singapore Amid Tokenization Efforts

Gemini, the cryptocurrency exchange co-founded by Tyler Winklevoss, has expanded its support for XRP Ledger in Singapore. This move allows users to transact directly over the XRPL network, providing a native XRP Ledger experience.

This development is significant as it takes place amidst growing recognition of the XRP Ledger in financial institutions and tokenization efforts. For instance, Ripple has been part of the MAS BLOOM project in Singapore, investigating the role of RLUSD in enhancing international business transactions.

In related news, XRP has seen a substantial price surge, with an increase of over 50% in the past week. This growth is attributed to high ETF inflows and institutional demand for spot XRP ETFs. The Bitwise-managed XRP ETF saw the maximum inflow of $8.25 million, while Goldman Sachs emerged as the largest holder.

XRP's trading volume has also increased by 15% during this period, with open interest in futures rising by almost 6% to $3.81 billion. CME saw a rise of 18%, whereas Binance experienced a fall of 1.32% in its trading volume.