Odelia Torteman, the company’s director of corporate adoptions Common XRPLrevealed that BlackRock and Mastercard are showing interest in XRP Ledger (XRPL). She also explained how the network is a suitable solution for those institutions that want to operate within the supply chain.

BlackRock and Mastercard show interest in XRP

XRP expert Xaif ​​shared video in which Torteman confirmed the interest of BlackRock and Mastercard XRP ledgerssignaling that they may consider bringing the product online. She also noted that XRPL was designed from the outset to support several utilize cases, which could be consistent with the goals of these institutions.

Torteman further noted that XRP Ledger has pre-built features that support enterprise-grade utilize cases. She referred to the out-of-the-box AMM, DEX and other features that developers are currently working on as part of the DeFi institutional roadmap that could support institutions like BlackRock and Mastercard.

It is worth noting that the XRP Ledger has recently been added zero knowledge technology (ZK).which XRPL Commons announced in collaboration with Boundless. XRPL Commons found that on-chain privacy is the missing piece for institutional adoption, indicating that the network can now achieve greater adoption by adding on-chain privacy.

BlackRock and Mastercard already have ties to the XRP ecosystem through their partnership with Ripple. Last year, Ripple and Securitize, the issuer BlackRock’s BUIDL fundhas partnered to add RLUSD as a stablecoin platform for the tokenized fund. Meanwhile, Ripple cooperated with Mastercard under the Crypto Partner program. The company revealed that the collaboration includes testing RLUSD on XRPL to enable faster, regulated stablecoin settlements for Mastercard transactions.

Companies ready for the next wave of adoption

Xaif ​​shared another video in which Ripple CEO Monica Long signaled that the companies would drive the next wave of adoption XRP and XRPL. She emphasized that her company already cooperates with several partners who utilize its infrastructure for activities such as dollar settlements.

She also revealed that they are seeing more and more utilize cases for internal financial management, with companies and banks looking for more effective ways to transfer money between different entities in real time around the world. Ripple’s CEO also opined that there is a significant utilize case for their Ripple Treasury product.

Especially, Recently integrated Ripple XRP and RLUSD to the Ripple Treasury management system, enabling institutions to utilize these crypto assets in the same environment. Long emphasized that these institutions are focusing on effective payment management, which is helped by crypto assets and stablecoins.

At the time of writing, XRP is trading at around $1.42, up over the past 24 hours, according to data from CoinMarketCap.

Featured image from Adobe Stock, chart from Tradingview.com