Ripple made a strategic investment in Zilo and Licuido as it looks to enable the use of tokenized funds as collateral from the point of issuance.
Ripple announced two new strategic investments as the blockchain-focused fintech seeks to expand access to tokenized financial assets on its blockchain ledger.
The company said it made strategic investments in Zilo, which provides global transfer agency asset solutions for wealth managers, and in Licuido, a tokenization solutions provider regulated by the UK Financial Conduct Authority, according to a Monday announcement.
Financial details for the investments were not provided. UK-based Zilo has raised $58.7 million in total equity funding, according to data compiled by Traxcn. Licuido is also based in the UK.
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