Ripple, a leading provider of enterprise blockchain and crypto solutions, has been selected to showcase its real estate asset tokenization solution as part of the Hong Kong Monetary Authority’s (HKMA) e-HKD Pilot Programme. The programme includes payment and settlement solutions such as programmable payments, settlement of tokenized deposits, and tokenized assets. Real-world asset tokenization is predicted to be a multi-trillion-dollar industry by 2030. Ripple’s solution combines the e-HKD, tokenized real estate, and lending protocols, all running on a private and secure ledger built with technology similar to the XRP Ledger (XRPL).
The e-HKD Pilot Programme will focus on real estate asset tokenization and equity release, allowing Ripple to demonstrate its innovative solution alongside partners including Fubon Bank. Leveraging the power of blockchain technologies, citizens of Hong Kong can experience the release of equity faster and more efficiently, while commercial banks can benefit from the higher velocity of loan throughput and more flexible payments.
Ripple’s Vice President of Central Bank Engagements & CBDCs, James Wallis said, “It’s a huge honor for Ripple to be one of the select few organizations participating in the HKMA’s e-HKD Pilot Programme. We now have the opportunity to demonstrate how real estate asset tokenization could be brought to the citizens of Hong Kong, and are confident that our fully integrated solution will be an industry-first use case demonstrating the power of leveraging a CBDC for real estate equity asset release.”
Moreover, Ripple has acquired Metaco, a Swiss-based digital asset custody and tokenization technology provider, to expand its enterprise offerings. By acquiring Metaco, Ripple provides customers with the technology to custody, issue, and settle any tokenized asset. Ripple’s acquisition will enable Metaco to access Ripple’s established base of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients. Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit, led by Adrien Treccani.
As can be seen, Ripple is making strides in revolutionizing real estate through the HKMA partnership and expanding its enterprise offerings by acquiring Metaco.