The XRP Ledger is witnessing a significant change related to the expansion of escrow functionality. With the new XLS-85 amendment, escrow features are now available for a more extensive range of tokenized assets.
Expansion of Escrow Capabilities
The XLS-85 amendment opens escrow capabilities for issued tokens and multi-purpose tokens, allowing stablecoins like RLUSD or USDC, tokenized real estate, money market funds, and even meme coins to be securely placed in escrow.
New Use Cases for Tokenized Escrow
The tokenized escrow opens up numerous practical scenarios. Conditional payments become fully automated, and tokens can be distributed according to a predefined schedule, introducing greater accountability and trust within token-based projects.
Positioning XRPL as a DeFi Infrastructure
The implementation of XLS-85 marks a pivotal evolution for the ledger, transforming XRP Ledger into a powerful DeFi platform. By enabling escrow for other tokens, the ledger is preparing for a broader range of real-world financial applications.
The introduction of XLS-85 signals significant development for the XRP Ledger, opening new horizons for the use of tokenized assets and pushing the ledger toward broader utility in the financial world.
