Ripple Expands XRP Ledger with Smart Contracts and New Partnerships
As Korean Blockchain Week kicks off, Ripple has unveiled significant advancements aimed at enhancing its crypto infrastructure and boosting institutional adoption.
The company announced that smart contracts will soon be integrated into the XRP Ledger mainnet, adding new Layer-1 features such as NFTs, decentralized exchanges (DEXs), and automated market makers (AMMs). Additionally, Ripple plans to launch the XRPL EVM Sidechain in the near future.
These updates are designed to create a more versatile ecosystem on the XRP Ledger, supporting a wide array of applications. Ripple’s new initiatives also include the introduction of its RLUSD stablecoin on the XRP Ledger.
The addition of smart contracts is expected to significantly enhance the network’s capabilities, offering developers greater flexibility and supporting permissionless development.
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In a separate development, Ripple has announced a partnership with Futureverse, a firm specializing in AI and Metaverse technologies.
This collaboration will see Ripple Custody being used to securely manage Futureverse’s digital assets. Futureverse will leverage Ripple Custody and its proprietary Ottó blockchain to provide secure and compliant Know Your Customer (KYC) verification for decentralized finance (DeFi) transactions.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
