Ripple & SettleMint Unite for Tokenization Push in APAC

Ripple has partnered with SettleMint to offer a combined solution for custody, issuance, and management of tokenized assets. This partnership aims to boost tokenization adoption by traditional finance firms in the Asia Pacific region.

The partnership integrates Ripple Custody and SettleMint's Digital Asset Lifecycle Platform (DALP) to provide institutions with a single platform for managing tokenized assets. According to Fiona Murray, managing director for Asia Pacific at Ripple, this solution gives tradFi firms the foundation to roll out digital assets and future-proof them.

The partnership comes as financial institutions are already moving towards tokenization, with the Depository Trust & Clearing Corporation (DTCC) set to launch a tokenization service in October. Ripple Custody provides institutional-grade digital asset custody infrastructure, expanding partnerships with Securosys, Figment, and integration with Chainalysis.

Ripple is also pushing the XRP Ledger v3.3.0 upgrade as part of its roadmap, placing tokenized real-world assets (RWAs) at the center of its institutional strategy. The XRP price has traded more than 1% higher at $1.38 in the last 24 hours.