The XRP Ledger (XRPL) is preparing to roll out a fresh upgrade this month that will open the door for more tokens to be used in escrow. This new upgrade is called “XLS-85d: Token-enabled escrows”. With this upgrade, users will be able to escrow stablecoins like RLUSD, real-world asset tokens, and even memecoins. This will come with the release of rippled version 2.5.0.
Escrow simply means holding a token safely until certain conditions are met. Prior to this, XRPL only allowed XRP to be locked in the escrow. However, with other tokens now given access, users will have more ways to use and manage their assets.
This upgrade is also getting support for Multi-Purpose Tokens (MPTs), according to RippleX engineer Mayukha Vadari and XRPL validator Vet. These tokens are lighter, more flexible, and easier to use.
Another feature that is coming is the XLS-56d batch transactions. This one gives users the ability to combine up to eight transactions into one. I will also support atomic swap in which two parties can exchange assets without needing trust.
With all these updates, XRPL is becoming a more powerful platform for digital assets. Last week, it got praise from the World Economic Forum (WEF) as one of the top technologies for asset tokenization worldwide.
In a report published, the WEF highlighted a $1 billion tokenized fund created by Aurum Equity Partners. This fund, built on the XRPL, turns ownership of private equity and debt into digital tokens. WEF says XRPL was used for this because of its speed, security, and low transaction costs.
Earlier this year, Ripple also teamed up with Ondo Finance to launch a tokenized U.S. Treasury fund on XRPL. The fund was backed by BlackRock’s BUIDL fund and offers secure, on-chain access to government bonds.
Also Read: Webus Files for $300M XRP Treasury Plan with US SEC
