Ripple and SUPER HOW unite for the Axiology project, testing crypto and CBDCs to enhance regulator confidence amid EU’s Anti-Fraud Initiatives.
Amid the initiatives aimed at combating fraud and money laundering by the EU, Ripple and SUPER HOW, a private blockchain technology research lab, have united in an ambitious endeavor named the Axiology project.
Prominent XRP influencer, Crypto Eri, took to Twitter to share the development with the crypto community.
“@Ripple is delighted to be working with SUPER HOW? and the Axiology decentralized securities project…"
Instant issuing and settlement of tokenized securities assets – such as a bond or share.
The private blockchain project is regulatory-compliant.
"This project will… pic.twitter.com/1lDqq12afw
— ?Crypto Eri ?Carpe Diem (@sentosumosaba) July 21, 2023
Ripple and SUPER HOW Collab
According to the official statement, this initiative aims to test and issue cryptocurrency, central bank digital currencies (CBDCs), and stablecoins, instilling regulators with unwavering confidence in the safety and security of these financial instruments.
The heart of the Axiology project lies in its tokenized trading and settlement infrastructure. The report noted that the architecture allows multiple layers of the existing capital market system to coexist harmoniously within a single technology layer, fostering synergies, process efficiencies, and novel business models.
Axiology CEO Reacts
Dr. Marius Jurgilas, CEO of Axiology, expresses support for the EU’s regulatory environment in retail capital markets and the crypto economy, underscoring the urgent need for innovative infrastructures to emerge.
“We strongly support this EU direction and want to be part of this movement,” Jurgilas remarks.
It is worth mentioning that Axiology is powered by the XRP Ledger (XRPL) technology, exemplifying tangible, real-world applications of tokenization and digital assets.
Ripple VP Reacts
On the other hand, James Wallis, VP of Central Bank Engagements at Ripple, expressed delight in partnering with SUPER HOW? and the Axiology decentralized securities project. He accentuates Ripple’s commitment to delivering practical use cases for CBDCs, highlighting the project’s aim to develop a regulatory-compliant infrastructure within the ambit of the European Union DLT Pilot Regime Regulation.
“This project will deliver significant learning for a future CBDC, which can then be issued by European banks,” Wallis remarked.
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.
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