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XRP 
RLUSD BlackRock's Hong Kong funds integrate tokenization, Hong Kong dollar liquidity and digital asset custody
BlackRock's Hong Kong funds combine tokenization technology, Hong Kong dollar liquidity, digital currency, custody services and mature banking infrastructure. OUSG reportedly holds approximately $335.9 million in assets, of which approximately $101.6 million is linked to BlackRock's BUIDL products.
The XRP network connects multiple financial institutions by connecting tokenized treasury bond exposures, RLUSD (U.S. dollar stablecoins), and institutional-level settlement infrastructure. As asset management companies, banks and payment networks increasingly connect blockchain to traditional financial infrastructure, XRP's tokenization applications are gaining increasing institutional attention.
BlackRock Hong Kong Funds Expand Tokenized Financial Landscape
According to X Finance Bull's analysis, BlackRock issued its first tokenized Hong Kong fund. This product is mainly targeted at Hong Kong and the wider Asia-Pacific market, leveraging Hong Kong dollar liquidity and supporting traditional and digital subscription processes. Standard Chartered Bank is responsible for the custody, administration, trust services and tokenization of the fund. The HKDAP issued by AnchorPoint Financial, led by Standard Chartered Bank, injected digital Hong Kong dollar liquidity into the fund. This structure closely integrates institutional assets with regulated financial infrastructure.
The connection between the XRP network is mainly reflected in Ondo's OUSG products. OUSG runs on the XRP ledger (XRPL) and supports the subscription and redemption of RLUSD. This directly establishes a connection between tokenized treasury bond exposure and blockchain-based liquidity.
据提供的数据显示，截至9月10日，OUSG持有约3.359亿美元资产。其中，贝莱德的BUIDL占比约为1.016亿美元，几乎占OUSG报告底层资产的三分之一。
多网络间机构产品的互联互通
这一关系在5月份描述的一笔跨境赎回交易中变得更加清晰。Ripple、Ondo、万事达卡（Mastercard）以及摩根大通的Kinexys参与了此次交易。据报道，XRPL在不到五秒的时间内完成了资产端的结算。万事达卡在交易过程中处理支付指令，摩根大通的基础设施则支撑了流程中的银行环节，传统的代理行银行随后完成了法币部分的交付。
这一安排展示了区块链技术基础设施如何与既有的金融机构协同运作。银行、托管机构、资产管理公司和支付网络各自保留其职能，而区块链则为资产流动和结算提供了额外的层级。
在最新市场更新时，XRP的交易价格约为1.30美元。CoinGecko数据显示，9月17日XRP的日交易量约为38.8亿美元，市值接近816.4亿美元。
数字货币构建更广泛的流动性网络
渣打银行还连接了分析中提到的多个要素，包括机构级XRP托管、代币化、XSGD（新加坡元稳定币）基础设施以及数字货币倡议。其在贝莱德香港产品中的角色进一步增强了这种连接。
在这个不断发展的生态系统中，RLUSD代表以美元为基础的数字货币流动性，XSGD在XRPL上提供新加坡元的代表形式，而HKDAP则引入了以港元为基础的另一数字货币结构。
分析还提及了通过Bitso推出的MXNB，作为另一项区域货币倡议。多种数字货币可能会在不同司法管辖区创建独立的流动性池。代币化的国债、基金、信贷和抵押品将进一步扩大这些流动性池。
这一框架将XRP置于潜在的中介流动性功能之中。稳定币可以代表单一货币，而其他资产则继续在链上进行代币化。XRPL随后提供连接这些金融产品和数字货币的基础设施。
因此，X Finance Bull所描述的发展重点在于互联的基础设施。贝莱德贡献代币化资产，渣打银行支持银行和数字货币功能，而Ondo、Ripple、万事达卡和摩根大通则在代币化、结算与传统金融之间增加了更多的连接纽带。
