The XRP Ledger (XRPL) is set to introduce a powerful upgrade this month, enhancing the platform’s functionality and user flexibility.

Dubbed “XLS-85d: Token-enabled escrows,” the update will allow a broader range of tokens including stablecoins like RLUSD, real-world asset tokens, and even memecoins to be securely held in escrow.

Initially, only XRP could be used with the escrow feature on the XRPL. As the new rippled version 2.5.0 comes out, users can now enjoy greater flexibility. Because of the upgrade, tokens are able to be locked when specific rules are met, giving rise to a wider variety of applications for businesses and developers alike.

XRPL Enables Escrow for Stablecoins and Memecoins

Ripple Partners With Ondo and BlackRock

In addition to the upgrade, RippleX engineer Mayukha Vadari and XRPL validator Vet have announced that support for Multi-Purpose Tokens (MPTs) is coming. They are developed to be straightforward, light and suitable for developers, streamlining how tokens operate.

The update also adds the processing of XLS-56d batch transactions onto the ledger. Users can perform many separate tasks within one transaction to make things faster.

It also supports atomic swaps, giving people a way to exchange assets directly without trusting anyone: a significant achievement for decentralized finance (DeFi). Due to these developments, XRPL maintains its position as a global leader in asset tokenization.

Just recently, the World Economic Forum (WEF) ranked XRPL as one of the leading advancements in its area. According to the WEF, Aurum Equity Partners opened a $1 billion tokenized fund on the XRPL, pointing out the value of its low fees, safety and fast performance.

Back in January, the impact of XRPL expanded further when Ripple teamed up with Ondo Finance to release a fund on XRPL, consisting of U.S. Treasuries, in association with BUIDL fund from BlackRock.