Monday, April 12, 2021

CoinField’s Sologenic to Use XRPL for Tokenization of Non-Blockchain Assets

Ripple and its digital token, XRP has been welcoming a host of developments lately. This ranges from outstanding partnerships to being the top of investment round in Bitso, the largest cryptocurrency exchange in Mexico and Latin America.

The latest development seeing as a “big game-changer” among XRP community members is the recent announcement that Bob Ras, the CEO of CoinField recently published. The update stated that CoinField, a cryptocurrency merchant that makes cryptocurrency trading easy in 100 countries, is working on a project that will be fully built on XRP Ledger.

CoinField, the XRP Game Changer

The White Paper of the project was released on According to reports, a part of the XRP community members that have little knowledge about this have been waiting earnestly for this big announcement.

The project will be based on the tokenization of stocks and fiat on demand. Sologenic is initiating a sophisticated environment that will facilitate investors, traders and on-demand tokenization of assets like stocks, ETFs and fiats using XRP Ledger.

As reported, a tokenized stablecoin of USD fiat or TSLA stock will be presented respectively as USDƨ or TSLAƨ. These aforementioned stablecoins will be available for trading and redeemable against XRP and SOLO on XRPL DEX and CoinField exchange.

Subsequently, CoinField will open thirty thousand stocks on Ripple’s XRP Ledger, purposely for cryptocurrency trading. The exchange’s CEO, Bob Ras stressed the benefits that can be derived in merging the traditional financial market (non-blockchain financial system) with digital assets.

He also pointed out that they will give their customers in CoinField the freewill to tokenize any asset on demand, with access to more 30,000 stocks and ETFs.

The update also related that CoinField’s customers can trade SOLO coin on its already functioning Centralized exchange. The coin will also be up for trading in the under-processing XRPL DEX and other top exchanges across the globe.

As of now, Sologenic is recognized as the most aspiring project established on XRPL. This is quite a vast means of pushing for the mainstream adoption of Ripple’s digital token, XRP, and blockchain technology as a whole.

The Announcement and the Joy It Brings

The big announcement was received with joy in the XRP community. They see this as a means to showcase the use cases of XRP Ledger.

An XRP-centric Twitter account identified as XRP Research Centre and a host of other faithful took to the social network to display their excitements, tagging it as a big game-changer for XRP.

Before now, the digital token XRP has been leading the way in the market. Its surging trend is so far exceptional to the extent of leading Bitcoin (BTC) in terms of daily price increase in the past few weeks.

This new development could as well serve as a new avenue for the price of XRP to surge towards the ceiling. At the time of filing this report, XRP is trading at $0.286872, with no notable downtrend or uptrend in the last 24 hours.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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