Ripple partners with Achex to tokenize $4.77 billion in Everdin Fund

Blockchain company Ripple will tokenize asset management company Abrdn's (formerly Standard Life) US Dollar Liquidity Fund on the Ripple blockchain.
On the 25th (local time), Ripple transferred Everdin’s “Tokenized Money Fund”, which is made up of a US dollar liquidity fund of $4.77 billion (approximately 733.8 billion yen), to Ripple’s XRP.
Ripple has partnered with Archax, a virtual asset exchange approved by the UK Financial Services Agency, to launch such a product.
In a statement released on the same day, Ripple said, "We tokenized Everdin's fund to reduce operational costs and improve settlement efficiency," and "More assets are being held on the blockchain.
It's moving," he emphasized.