- Ripple’s XRP Ledger to Aid Ulra-fast Transactions
Recently, the CoinField exchange was in the news after the platform dropped hints that they were supporting an unknown Ripple XRP Ledger (XRPL) project. Afterward, it announced the partnership with Ripple as its verified validator. The project which was launched earlier this week is known as Sologenic. The news went viral from a tweet from crypto-enthusiast @XrpCenter, who tweeted, “CoinField’s Secret XRPL Project (@realSologenic) has been revealed. Sologenic will use the #XRPL to enable the tokenization of non-blockchain assets (i.e. stocks/ETFs) and trade them against #XRP or IOUs.”
Created on the XRP Ledger, the official statement release states that “Sologenic is introducing a sophisticated ecosystem that facilitates users with investing, trading, and on-demand tokenization of assets such as stocks, ETFs, and fiat.” It went further to explain that Sologenic will influence its token known as SOLO coin, the coin will be distributed on the XRP Ledger and will “allow liquidity to be moved almost instantly.”
On the official website of Sologenic, it states that SOLO coins are aimed at establishing an active link between crypto-assets and non-blockchain-based assets by merging them directly with fiat to resolve with third-party brokerage firms.
Sologenic to Influence Cryptocurrency Adoption
The launch of CoinField’s Sologenic platform will permit traders to transact major stocks on the XRP Ledger in 2020. The cryptocurrency platform has announced that the new partnership with Ripple will aid ultra-fast trading of customary investment like fiat currencies, stocks and ETFs on Ripple’s XRP Ledger (XRPL).
Bob Ras, the CEO of Cornfield stated that the realization of the Sologenic platform will materialize in 2020. The creating of tokens for customary assets is the trend in vogue now in the cryptocurrency industry. Currently, investors around the globe can transact US stocks 24/7.
XRP (XRP) Price Today – XRP / USD
Name Price 24H % $0.531
Aside from making customary market reachable, Ras explained that the Sologenic would also influence the adoption of cryptocurrency. He stated, “We’re making it easy for people around the world to have access to different global stock exchanges via the Blockchain. […] Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!”
The company stated that stablecoins such as USD and TSLA are tradable and valid against XRP and SOLO on both XRPL DEX and CoinField exchange. Even though the exchange persists as one of the top platforms to merge over 30 cryptocurrencies and some fiat currencies directly with XRP. Currently, XRPL has attained major feet by closing its 50-millionth ledger.