Ripple Teams Up With UC Berkeley to Boost Institutional Use on XRPL

In the latest XRP News, Ripple has partnered with UC Berkley in a bid to boost institutional use of the XRPL on the academic front. The firm’s university blockchain research team launched a new initiative called the Digital Asset Xcelerator (UDAX).

Ripple and UC Berkley Debuts UDAX on XRP Ledger

In a recent press release, the firm announced that its University’s Blockchain Research Initiative (UBRI) has completed the launch of its UDAX program. This comes after it completed its initial pilot program that ran for over six weeks at UC Berkley.

The new project was a product of the joint work of the crypto firm’s engineers and the university’s faculty and founders. The initiative was designed to help founders with technical support and direct access to capital networks.

Additionally, over the pilot program, nine startups worked to develop concepts for market deployment. Ripple started the program with a summit in Berkley. Here, the founders were given a breakdown of the XRP Ledger’s ecosystem.

Some of the startups already leveraged the accelerator to gain access to credit offerings. CRX Digital Assets were able to increase their tokenized volume from $39 million to $58 million through it. Also, Blockroll used the RLUSD momentum to launch new stablecoin-backed virtual cards for African freelancers.

“Blockroll can offer additional institutionally accepted stablecoins that streamline remittance settlements from Sub-Saharan Africa’s leading source (the U.S.) Sadiq Isiaka, Blackroll, CEO commented. “This also unlocks world-class wealth-building opportunities for African users, including stablecoin yields and tokenized U.S. stocks.”

This also comes after the firm continues to release major upgrades for the XRP Ledger. Last December, Ripple released major changes to boost the XRPL’s network stability for better institutional use.

XRPL Continues To See Adoption

The ledger has continued to see major activity and the firm has looked to expand its use cases. As CoinGape reported, Axiom said it would be launching its prediction market on the XRPL. This would allow RLUSD  and XRP holders to trade on real markets.

This will provide additional utility for the altcoin that has started out the year with great traction. Notably, Robert Kiuru, COO of XRPL Labs recently shared that they are working on bring batch transactions to the ledger.

A batch transaction would allow multiple transactions to be put together and sent as a single unit. This would make it easier for developers to build apps that would bring in revenue directly on-chain. It would also open the ledger to more established financial apps.