Zoniqx (formerly known as Tassets) a provider of digital asset management services, this week announced its partnership with Ripple, an enterprise blockchain and crypto solutions firm. This collaboration harnesses the scalable infrastructure of the XRP Ledger (XRPL) and integrates it with Zoniqx’s Tokenization Platform as a Service (TPaaS) and Tokenization Life Cycle Management (TALM) solutions. Tokenization improves access to an asset class by reducing traditional barriers to entry, lowering costs and eliminating geographical boundaries.
The partnership aims to streamline the tokenization process for real-world assets on XRPL, which supports native (XRP) and issued tokens to represent assets on-chain, making the process more efficient, accessible and liquid in the digital asset market. By leveraging XRPL’s blockchain infrastructure alongside Zoniqx’s tokenization and digital asset lifecycle management offerings, the integration seeks to facilitate the digital conversion of traditional assets on-chain.
Zoniqx’s integration with the XRPL will allow the tokenization of multiple real-world financial assets on the XRPL and offers a low-code conversion of real-world assets into digital assets. Zoniqx’s TPaaS ensures compliance with local jurisdictions by leveraging the Dynamic Interoperable Compliance Security Token Standard (DyCIST) standard and provides direct access to liquidity options.
Token issuers can integrate with the XRPL and experience an intuitive interface for primary users to participate in asset tokenization. Users can create accounts, complete KYC verification, and submit buy offers to receive tokens, thereby enhancing accessibility and liquidity in the digital asset market on the XRPL.
“Joining forces with Ripple is a testament to our commitment to setting new standards in the digital asset space,” Zoniqx founder and CEO Prasanth Kalangi said. “Our combined efforts will ensure the tokenization of assets is not only dynamic and compliant, but also accessible to everyone, everywhere.”
“Zoniqx’s integration with the XRPL marks a significant milestone in the journey to enable the Internet of Value,” RippleX SVP Markus Infanger added. “By integrating XRPL’s fast, cost-efficient blockchain technology with Zoniqx’s pioneering tokenization services, the XRPL is poised to showcase unparalleled efficiency and scalability to the world of asset tokenization.”