Ripple Announces New Developments to Enhance Blockchain Infrastructure at XRPL Events

by Giorgi Kostiuk

2 years ago

Made with AI

New Initiatives by Ripple
Integration with Futureverse
XRPL Programmability

During the ongoing XRPL events in Korea and Japan, Ripple made several key announcements aimed at strengthening the blockchain ecosystem for institutional use.

New Initiatives by Ripple

Ripple President Monica Long, in a recent tweet, praised the company’s efforts in boosting blockchain utility and usability for institutional adoption. One of the major announcements was the partnership with Futureverse to securely hold the company's assets.

Integration with Futureverse

According to a recent release, Ripple will integrate Ripple Custody to enable Futureverse to securely manage its digital assets. Futureverse has already adopted the XRPL NFT standard, uses XRP as the gas token on the Root Network, and is integrated with the XRPL DEX to supply network liquidity. Long noted that custody remains a critical entry point to tokenization. "Everyone - from big banks to crypto natives - needs secure and compliant infrastructure to power enterprise use cases. Excited to further our partnership with Futureverse," Long added.

XRPL Programmability

Ripple is committed to bringing new programmability, including smart contracts, to the XRPL developer ecosystem by 2025. Progress toward smart contract functionality is already underway with the XRPL EVM Sidechain, developed in collaboration with Peersyst, which is nearing deployment on the devnet. This sidechain, which provides Ethereum Virtual Machine (EVM) compatibility, is expected to be a significant step for the platform, improving XRPL programmability through two major developments.

Ripple continues to actively develop its blockchain ecosystem by integrating new technologies and strengthening partnerships to support institutional use and programmability.

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