The European Central Bank (ECB) has conducted trials based on XRP Ledger code within its testing environment, exploring the mechanics of issuance, settlement, and redemption of tokenized bonds.
ECB Trials on XRP Ledger
An ECB report from June notes a project built on XRP Ledger code that has been tested within a closed wholesale-DLT environment. The trials were conducted entirely within a private network.
Axiology's Bond Settlement System
Lithuanian fintech Axiology led the tests, utilizing a 'private permissioned infrastructure built using open-source XRP Ledger code.' Axiology's system is designed to record trades, settlements, and custody of tokenized bonds without relying on public validators.
Current XRP Market Situation
XRP is trading at $2.20, showing a +0.47% gain over the last 24 hours. The market cap has reached $129.6 billion, placing XRP as the 4th ranked cryptocurrency. Over the past week, XRP has maintained a stable upward trend with a 12% increase in open interest for XRP derivatives.
ECB's trials based on XRP technology confirm its applicability in closed networks, although public networks remain off-limits. This suggests a persistent interest in tokenization technologies and bond issuance.
