BlackRock (NYSE:BLK) and JPMorgan are spearheading a projected bull run for XRP, as reported by Forbes' Billy Bambrough. The financial giants are leveraging blockchain technology and tokenization to drive significant growth in digital assets such as XRP, Bitcoin, and Ethereum.
The firms have embarked on crypto-specific initiatives, including the use of JPMorgan's blockchain-based collateral settlement program and Ethereum-based Onyx network. BlackRock CEO Larry Fink described these moves as stepping stones to the "next generation for markets." In a recent transaction with Barclays, the firms also tokenized assets, further highlighting their commitment to digital asset innovation.
A market surge was triggered by a false report about BlackRock's application for a spot Bitcoin ETF, demonstrating the market's sensitivity to these large firms' activities in the crypto space.
Bambrough anticipates that these developments will catalyze a substantial rally for digital assets like XRP, Bitcoin, and Ethereum. The use of blockchain technology and tokenization by these firms is expected to attract significant institutional demand.
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