At the ongoing Money 20/20 Europe 2024 event in Amsterdam, Ripple President Monica Long shared insights into the company's latest momentum and strategic initiatives in an interview with CNBC's Arjun Kharpal. Long highlighted the growing demand for real-world asset (RWA) tokenization among Ripple's custody customers and the company's recent entry into the stablecoin market.

Long expressed optimism about Ripple's current trajectory, emphasizing the significance of RWA tokenization on the XRP Ledger (XRPL). Ripple is collaborating with Zoniqx, a pioneer in digital asset management, to deliver tokenization services on XRPL. This collaboration aims to facilitate the tokenization of various real-world assets, enhancing the utility and adoption of blockchain technology in traditional finance sectors.

In addition to discussing RWA tokenization, Long highlighted Ripple's foray into the stablecoin market. Earlier this year, Ripple announced plans to create a USD-pegged stablecoin on both XRPL and Ethereum, leveraging XRPL's native functionality and ERC-20 token standards. The stablecoin will be fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents, with monthly third-party attestations to ensure transparency and trust. Long expressed hopes for the stablecoin's launch within this year.

Ripple's momentum is further supported by strategic partnerships aimed at enhancing cross-border payment solutions. Recently, Ripple announced a partnership with global payments solution provider Clear Junction to improve GBP and EUR payouts for its customers. This collaboration is expected to strengthen Ripple's cross-border payment capabilities, ensuring faster and more secure transactions in the U.K. and EU.

Overall, Ripple's recent initiatives and partnerships underscore its commitment to advancing blockchain technology and digital asset adoption. By focusing on RWA tokenization, entering the stablecoin market, and forging strategic alliances, Ripple aims to enhance its offerings and solidify its position as a leader in the blockchain and cryptocurrency space.