Ripple’s executive in charge of payments, Oliver Segovia, emphasizes the importance of tokens in the digital landscape, stating that “everything computes via tokens” and “everyone transacts via tokens.” The tokenization of real-world assets is a key part of Ripple’s vision for the future of XRP, and a recent survey conducted by the company found that 72% of global finance professionals expect to explore tokenization within the next three years.
Ripple’s commitment to tokenization is evident in the development of the XRP Ledger, which is gradually becoming a platform for seamless token technology. According to Segovia, tokens are at the core of all computing and payment transactions.
Last year, Ripple conducted a study involving over 1,700 senior professionals in the financial services industry. The study revealed that 72% of respondents expect their organizations to explore tokens by 2026, highlighting the critical role of tokenization in the future of XRPL and the financial sector as a whole.
Oliver Segovia, who has previously worked at Coinbase and Google Pay, shared his thoughts on the impact of tokens, emphasizing their importance in computing and transactions. Segovia, who hails from the Philippines, also expressed the demand for stablecoin payouts in emerging markets and highlighted Ripple’s expertise in blockchain-based solutions for enterprise use cases, positioning the company as a strong contender in the growing stablecoin market.
Tokenization is widely recognized as a gamechanger in blockchain technology. Major entities such as HSBC, the Boston Consulting Group, Goldman Sachs, and Deloitte, as well as governments in the US and UK, have all acknowledged the significant opportunities and impact that tokenization can bring.
Ripple’s report on tokenization highlights the optimism among finance leaders regarding the impact of tokenization on securitized assets, such as mortgages and asset-backed securities. Enterprises also see great potential for tokenization in the metaverse and for events or ticketing.
Ripple believes that bringing assets onto the blockchain is just the first step. The market must also establish protocols and marketplaces where these tokens can be freely traded, paving the way for new financial applications.
Brad Chase, the head of liquidity products at Ripple, predicts that as assets are tokenized, there will be an expansion of supporting financial instruments like derivatives, as well as the emergence of novel use cases that are only made possible through blockchain technology.
Currently, XRP is trading at $0.5067 and has maintained a sideways movement for the past day, alongside a 10% decrease in trading volume.