The partnership between Ripple and BNY Mellon has expanded, with the focus on tokenized trade finance, while the bank is also broadening its support for tokenized assets.
CoinGape published this news on the day of the Ripple Swell event. Trade finance is a part of traditional banking that involves a lot of paperwork and slow processing, so this is usually where the motivation for moving on-chain comes in; however, the material did not say which chain or what settlement method would be used.
For XRP holders, an expanded partnership does not mean the token will directly benefit, and the material does not explain the relationship between the two. What can be confirmed is that the scope of the partnership has widened; what cannot be confirmed is the actual boost it may bring to XRP Ledger usage.
CoinGape published this news on the day of the Ripple Swell event. Trade finance is a part of traditional banking that involves a lot of paperwork and slow processing, so this is usually where the motivation for moving on-chain comes in; however, the material did not say which chain or what settlement method would be used.
For XRP holders, an expanded partnership does not mean the token will directly benefit, and the material does not explain the relationship between the two. What can be confirmed is that the scope of the partnership has widened; what cannot be confirmed is the actual boost it may bring to XRP Ledger usage.
