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A Perfect Match: How BlackRock And Mastercard Are Tapping XRP To Dominate DeFi
TL;DR
BlackRock and Mastercard are exploring the XRP Ledger for potential product launches, according to Odelia Torteman from XRPL Commons. The XRP Ledger's enterprise-grade features and recent addition of zero-knowledge proof technology make it appealing for institutional DeFi applications.
Key points
- BlackRock and Mastercard are interested in the XRP Ledger
- The XRP Ledger has enterprise-grade features for institutional use
- Zero-knowledge proof technology has been added to the XRP Ledger
- On-chain privacy is key for institutional adoption
- XRPL Commons supports institutional DeFi development
Mentioned in this story
BlackRockMastercardOdelia TortemanXRPL Commons
XRP Ledger
Odelia Torteman, the Director of Corporate Adoption at XRPL Commons, has revealed that BlackRock and Mastercard are showing interest in the XRP Ledger (XRPL). She also explained how the network is the right fit for these institutions as they look to move on-chain.
BlackRock and Mastercard Are Showing Interest In XRP
XRP pundit Xaif shared a video in which Torteman confirmed that BlackRock and Mastercard were showing interest in the XRP Ledger, signaling that they could consider launching a product on the network. She also noted that the XRPL was designed from the beginning to support several use cases, which could align with these institutions’goals.
Torteman further remarked that the XRP Ledger has pre-embedded features that support enterprise-grade use cases. She alluded to the pre-built AMM, DEX, and other features that developers are currently working on as part of the institutional DeFi roadmap, which could help onboard institutions such as BlackRock and Mastercard.
It is worth noting that the XRP Ledger recently added zero-knowledge (ZK) proof technology, which XRPL Commons announced in partnership with Boundless. XRPL Commons stated that on-chain privacy was the missing piece for institutional adoption, indicating that the network could now see greater adoption with the addition of on-chain privacy.
BlackRock and Mastercard already have ties to the XRP ecosystem through their collaboration with Ripple. Last year, Ripple and Securitize, the issuer of BlackRock’s BUIDL fund, partnered to add RLUSD as a stablecoin off-ramp for the tokenized fund. Meanwhile, Ripple has collaborated with Mastercard for its Crypto Partner program. The firm revealed that the collaboration includes testing RLUSD on the XRPL to enable faster, regulated stablecoin settlement for Mastercard transactions.
Companies Set To Drive The Next Wave Of Adoption
Xaif shared another video in which Ripple’s President Monica Long signaled that companies will drive the next wave of adoption for . She highlighted that her firm is already working with several partners who use its infrastructure for activities such as dollar clearing.
Q&A
What are BlackRock and Mastercard planning with the XRP Ledger?
BlackRock and Mastercard are showing interest in launching products on the XRP Ledger, leveraging its enterprise-grade features.
How does the XRP Ledger support institutional DeFi?
The XRP Ledger supports institutional DeFi through its pre-embedded features like AMM and DEX, designed for various use cases.
What is the significance of zero-knowledge proof technology for the XRP Ledger?
The addition of zero-knowledge proof technology enhances on-chain privacy, which is crucial for increasing institutional adoption of the XRP Ledger.
