Ripple expects the centre of tokenised trading to move from private blockchains to public blockchains. Ripple is also expected to accelerate its push to expand the XRP Ledger (XRPL) into tokenisation infrastructure for institutions.

On Sept. 30, blockchain media outlet U.Today reported that Ripple President Monica Long (모니카 롱) answered “public” when asked at a Korea Blockchain Week session in Seoul whether future tokenised volumes would accumulate more on public chains than private chains.

Long said that as tokenisation centred on public blockchains expands, Ripple is also applying to the XRP Ledger functions that private blockchains have provided. She cited XLS-96, a confidential transfers feature, and XLS-75, a delegated permissions feature. It means Ripple aims to implement on public blockchains privacy protection and account management functions that institutions have demanded in private environments.

The XRP Ledger is a decentralised, public layer-1 blockchain. Ripple sees that if the tokenisation market moves to public chains, the XRP Ledger could establish itself as infrastructure for institutional asset issuance and trading.

Confidential transfers are designed to provide institutional-grade privacy for multi-purpose tokens. Delegated permissions are designed to allow some permissions of one account to be entrusted to another. It is a way to combine the security and management functions institutions demand with a public chain.

The timetable for adding key XRP Ledger features is also taking shape. Delegated permissions are scheduled for release on Oct. 8, and batch-related fixes are targeting mainnet activation on Oct. 9. Both features will be applied only if they maintain support from more than 80 percent of validators during a two-week activation period.

The batch feature focuses on improving transaction efficiency for institutions by allowing multiple transactions to be processed as a single bundle. It is expected to be used, alongside delegated permissions, as a foundation to support institutional-grade account management and atomic transaction execution.

Ripple is also continuing to expand its ecosystem in the South Korean market. Long is scheduled to attend the “XRP Seoul” event on Oct. 3 at the Grand Hyatt Seoul in Seoul. Others attending include Ripple Senior Vice President Markus Infanger (마르쿠스 인팡거), RippleX head of engineering J.A. Akinyele (J.A. 아킨옐레), Ripple head director of ecosystem growth Christina Chan (크리스티나 찬) and Ripple senior manager of ecosystem growth Tatsuya Korogi (타츠야 코로기).

In Brazil, an example has also emerged showing potential institutional use of the XRP Ledger. Brazilian financial market infrastructure firm CSD BR recently announced the first phase of a strategic partnership with Ripple. CSD BR, which manages more than 22 trillion Brazilian reais in registered assets, presented the cooperation as a new stage for Brazil’s asset tokenisation market.

Ripple expects the cooperation to potentially bring an initial inflow of substantial volume onto the XRP Ledger. Luke Judges (루크 저지스), Ripple’s global head of partner success, called the integration “a big win for the XRP Ledger” and said he expects a benchmark market capitalisation of about $15 billion to come onto the XRP Ledger from the first issuance alone.

Ultimately, the key question is whether the centre of gravity in the tokenisation market will actually shift to public blockchains. Another major variable is how much the XRP Ledger can draw institutional demand for asset issuance and trading, using the October feature upgrades and the Brazil cooperation as a springboard.