• Fiat-backed stablecoins will be available for trading on top of Ripple's XRP ledger.
  • It will be available from next year via a new platform, "Sologenic."

Crypto exchange Coinfield has recently announced that it will make stocks such as Tesla and Apple tradable on the popular XRP ledger (XRPL). Coinfield’s CEO Bob Ras reported that stocks and ETFs from more than 25 global stock exchanges. He also stated that fiat-backed stablecoins will be available for trading on top of Ripple's XRP ledger. It will be available from next year via a new platform, "Sologenic". Ras said:

“It’s an ecosystem, merging traditional financial market assets—non-blockchain financial systems—with crypto assets,” he said. "We offer our customers the ability to tokenize any asset on demand. Users can tokenize over 30,000 stocks and ETFs.”

Coinfield’s own crypto Solos (Ƨ,) serves as a bridge between crypto-assets and stocks or ETFs. Solo is directly paired with fiat and used as collateral to settle transactions with third-party brokerage firms. For example, Tesla shares and USD would become TSLA and USDƨ, respectively, after they are converted to a tokenized stablecoin version. These stablecoins are tradable against XRP and Solo on CoinField’s exchange and the XRPL DEX.

Ras further added:
 

“We offer users ability to tokenize any asset, or fiat. A user from, say, Japan can tokenize fiat on top of XRPL and they can move their funds almost instantly to the XRP blockchain,” said Ras. “We’re helping [with the] mass adoption of cryptocurrencies, and we get more users to invest in the stock market.” 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Pi Network Price Forecast: A Possible bullish pattern breakout in PI teases trend reversal

Pi Network Price Forecast: A Possible bullish pattern breakout in PI teases trend reversal

Pi Network edges higher at press time on Thursday as it trades in the green for the third consecutive day. The recovery could have been driven by the launch of the new Pi Node version, while the technical outlook shares the possibility of extended gains with a bullish pattern breakout. 

Sui Price Forecast: Technical breakout aims for $4.00, supported by TVL growth

Sui Price Forecast: Technical breakout aims for $4.00, supported by TVL growth

Sui extends its breakout above the descending channel and reclaims the 100-day EMA at $3.07 as support. Sui’s DeFi Total Value Locked nears the $2 billion mark, indicating rising investor confidence.

Bitcoin eyes $120,000 as prospects of Fed rate cuts fuel market optimism

Bitcoin eyes $120,000 as prospects of Fed rate cuts fuel market optimism

Bitcoin price stabilizes around 111,000 on Thursday after hitting a record high of nearly $112,000 the previous day. Fed Minutes spark renewed risk-on sentiment as it showed officials foresee interest rate cuts later this year, boosting momentum across markets.

Crypto Today: Bitcoin's new all-time high reignites risk-on sentiment as Ethereum, XRP bulls increase exposure

Crypto Today: Bitcoin's new all-time high reignites risk-on sentiment as Ethereum, XRP bulls increase exposure

Bitcoin could extend its price discovery phase amid renewed risk-on sentiment following its new record high. Ethereum extends gains toward $2,880 critical resistance on the backdrop of rising spot ETF inflows.

Bitcoin: BTC ends Q2 with 30% gains, Standard Chartered eyes $200K by year-end

Bitcoin: BTC ends Q2 with 30% gains, Standard Chartered eyes $200K by year-end

Bitcoin (BTC) closed a strong second quarter (Q2), recording nearly 30% in quarterly gains amid rising corporate and institutional demand and bullish market sentiment.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP