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    Ripple Launches New Token Standard on XRP Ledger to Easier Issuance of Cryptocurrencies and NFTs

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    Ripple, a leading provider of digital asset infrastructure for financial services, has launched a new token standard on the XRP Ledger to facilitate the issuance of crypto assets and non-fungible tokens (NFTs). The new token standard will pave the way for the creation of stablecoins, meme coins, and NFTs, among other digital assets, in the future.

    Ripple Unveils New Standard for Tokens

    In a short live interview on September 2, Jazzi, Ripple’s head of Defi products, confirmed that they have launched a new token standard known as the “Multi-Purpose Token or MPT” on their XRP Ledger blockchain. The token will facilitate seamless issuance of assets, transfer of value, exchange, and credit while prioritizing security and regulatory compliance.

    Ripple is a blockchain-based digital payments company that has created a network and protocol that uses the XRP cryptocurrency and the XRP Ledger. The XRP Ledger (XRPL) is a decentralized public blockchain network driven by a global community of businesses and developers looking to solve problems and create value. The XRP Ledger allows for the fast, low-cost, real-time transfer of XRPs, NFTs, and other digital assets.

    As part of its latest advancement, Ripple has unveiled its new Multi-Purpose Token Standards (MPTs). As described, token standards are sets of rules that define how digital tokens, including non-fungible tokens, are created, managed, and transferred on a blockchain network. Ripple’s multi-purpose token joins a rapidly growing list of token standards, including ERC-721, ERC-20, and BRC-20.

    Key Use Cases for Ripple’s Multipurpose Token

    Ripple expects to use its new multi-purpose token to create tokenized products, including treasury bonds, airline credits, college degrees, art, and other real-world assets (NFTs). Ripple, through SBI Holdings, has hinted at plans to launch tokenized assets in January. SBI Holdings, a Ripple ally, plans to launch NFTs on the XRP Ledger network and unveil them in Expo 2025 event.

    Expo 2025 is an upcoming technology event scheduled to open on April 13, 2025 and close on October 13, 2025 in Osaka, Japan. The highly anticipated event will pave the way for the birth of new technologies and products, including blockchain technology, that will help improve the convenience of everyday life. The company has partnered with SMBC, Resona, and MUFG to release NFTs for Expo 2025.

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