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HomeCrypto NewsMarketTop Exec Reveals How Ripple Plans to Transform Real Estate Industry Via Tokenization 

Top Exec Reveals How Ripple Plans to Transform Real Estate Industry Via Tokenization 


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Ripple’s CBDC advisor has revealed how the company plans to use tokenization to transform the real estate industry. 

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California–based blockchain company Ripple Labs has announced plans to revolutionize the real estate industry through tokenization. Ripple’s CBDC advisor Anthony Welfare made the announcement on Twitter yesterday. 

According to Welfare, central bank digital currencies (CBDCs) are gaining traction, and Ripple is making significant efforts to create real-world use cases for them. Ripple’s focus is to tokenize the real estate industry. 

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Notably, Welfare recently made a presentation at a fintech conference in Romania titled: “Tokenization is the future of real estate.” 

In his presentation, he showcased a pilot program that combines the hypothetical digital Hong Kong dollar (e-KHD), finance lending protocols, and tokenized real estate. 

Per Welfare, the pilot program, which leverages Ripple’s CBDC platform, allows users to tokenize real estate as loan collateral. 

It is worth noting that the initiative is part of the Hong Kong Monetary Authority’s (HKMA) CBDC pilot program. Ripple joined the program on May 18, 2023, partnering with Fubon Bank to offer solutions for real estate tokenization. 

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Countries See Ripple as CBDC Frontrunner  

Meanwhile, Ripple has been selected for multiple CBDC pilot projects. Earlier this month, Colombia became the latest country to select Ripple for its CBDC pilot program.  

Aside from Colombia, countries like Montenegro, Bhutan, and Palau have also selected Ripple to develop similar projects. 

Commenting on the development, Welfare said the XRP Ledger (XRPL) serves as the basis for CBDC pilots. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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