According to Oliver Segovia, Ripple’s head of payments, tokens are the key to the future of XRP, as “everything computes via tokens” and “everyone transacts via tokens.” A recent survey conducted by Ripple revealed that 72% of global finance professionals expect to explore the application of tokenization within the next three years.
Tokenization remains a central part of Ripple’s vision for the future of XRP, with the XRP Ledger gradually integrating seamless token technology. Tokens play a crucial role in the world of computing and payments, as highlighted by a Ripple executive.
Last year, Ripple conducted a study involving over 1,700 senior professionals in the financial services industry. The study showed that 72% of participants anticipate their organizations to explore tokens by 2026, indicating the significance of tokenization for the future of XRPL and the entire sector.
Oliver Segovia, the head of payments marketing at Ripple, recently expressed his views on the impact of tokens, stating that everything computes and everyone transacts via tokens.
Born in the Philippines, Segovia has previously held positions at Coinbase and Google Pay. He has been involved in Ripple’s efforts to introduce innovative features and products, including its recent foray into stablecoins. However, this move has reportedly caused some friction with potential competitors.
Regarding stablecoins, Segovia stated, “I’ve witnessed firsthand the demand for stablecoin payouts, especially in emerging markets like the Philippines where I grew up. Ripple has extensive experience in providing blockchain-based solutions for enterprise use cases, making it an ideal competitor to Tether and Circle in the rapidly growing stablecoin market.”
Tokenization on the XRP Ledger is expected to be a gamechanger in blockchain technology. Major entities such as HSBC, the Boston Consulting Group, Goldman Sachs, Deloitte, and governments in the US and UK recognize the significant potential and impact of tokenization.
In its report on tokenization, Ripple highlighted the optimism of finance leaders regarding its impact on securitized assets like mortgages and asset-backed securities. Enterprises see the most potential in the metaverse and for events or ticketing.
Ripple believes that bringing assets onto the blockchain is just the first step. It is crucial to develop protocols and marketplaces where these tokens can be freely traded, leading to a new wave of financial applications.
Brad Chase, the head of liquidity products at Ripple, commented that as assets become tokenized, there will be an expansion of supporting financial instruments like derivatives, as well as the emergence of novel use cases made possible by blockchain technology.
At the moment, XRP is trading at $0.5067 and has remained relatively stable over the past day, despite a 10% decrease in trading volume.