According to online reports, Ripple announced the launch of its first tokenized money market fund on XRP Ledger. As a start, Ripple's XRP Ledge will tokenize the US$4.77 billion liquidity fund of asset management company abrdn. Ripple has entered into a partnership with Arax, the UK's first cryptocurrency exchange, broker and custodian regulated by the Financial Conduct Authority, which has access to abrdn's money market funds. Ripple said in a statement on November 25 that the tokenization of abrdn's $4.77 billion money market fund on XRPL shows that RWA is moving on-chain to achieve operating cost savings and improved settlement efficiency.