Ripple Labs is teaming up with a Northern Europe-based research and development firm to run experiments centered on crypto assets and central bank digital currencies (CBDCs).
In a new company blog post, Ripple says it will be collaborating with SUPER HOW?, a private blockchain technology research lab based in Latvia to work on the Axiology project, a tokenized securities and settlements infrastructure built on top of the XRP Ledger.
“Ripple and SUPER HOW? have embarked on an ambitious collaboration known as the Axiology project. This collaboration serves as a catalyst for testing and issuing digital assets, including central bank digital currencies and stablecoins, to bolster regulators’ confidence in the safety and security of these transformative digital assets…
Axiology is a tokenized securities trading and settlement system (DLT TSS) infrastructure. This infrastructure enables multiple layers of the current capital market infrastructures to coexist on one technology layer leading to multiple synergies, process efficiencies and new business models.
This collaboration aligns with Ripple’s commitment to driving innovation and advancing the adoption of blockchain technology in the financial industry.”
According to Ripple, the point of the partnership is so that regulators can test the security and safety of crypto assets.
“The DLT Pilot Regime offers a unique platform for Ripple and SUPER HOW?, as innovative enterprises, to play an instrumental role in fostering the safety and security of digital assets markets for all participants.
By subjecting the DLT Pilot Regime to rigorous testing through the Axiology project, regulators gain unparalleled assurance regarding the resilience and security of digital assets.”
Ripple says the project aims to highlight a core real-world business application for tokenization and digital assets on the XRP Ledger.
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Source: https://dailyhodl.com/2023/07/23/ripple-teams-up-with-research-and-development-firm-to-run-cbdc-and-crypto-experiments/