Ripple Invests in ZILO and Licuido to Expand XRPL Capital Markets Infrastructure By Matt Brienen Published: 2026-08-03T19:29:46+00:00 ### Ripple Expands Its Capital Markets Strategy Ripple has announced strategic investments in ZILO and Licuido as the company builds out institutional infrastructure for tokenized funds and digital capital markets on the XRP Ledger. The investments expand existing partnerships between the three companies. ZILO specializes in transfer agency and fund administration technology, while Licuido provides infrastructure for tokenized asset issuance, distribution, trading and collateral use. Ripple did not disclose the size or financial terms of either investment. The company said the deals will bring regulated transfer agency, issuance and collateral mobility capabilities into its institutional infrastructure on the XRP Ledger, commonly known as XRPL. The announcement signals that Ripple is concentrating on more than placing traditional assets on a blockchain. Its larger goal is to build the operational framework needed for institutions to issue, record, transfer, settle and use those assets as collateral. --- ### What ZILO and Licuido Add ZILO provides transfer agency and fund administration technology for asset managers, custodians and transfer agents. This includes the regulated recordkeeping needed to support tokenized share classes as investment funds move onchain. That recordkeeping function is essential because institutional tokenization requires a reliable connection between blockchain-based tokens and the legally recognized ownership records behind them. Asset managers must know who owns each share, whether the investor is eligible and how ownership changes are reflected across both digital and traditional systems. Licuido addresses the next stage of the process. Its platform supports the issuance, distribution and execution of tokenized assets, including fund shares, while enabling institutions to use those assets as collateral. This collateral functionality could allow an institution to borrow, lend or post margin against a tokenized fund holding without first selling the underlying investment. In theory, that gives assets sitting on balance sheets greater mobility and creates new sources of liquidity without forcing owners to give up their existing exposure. Licuido CEO and co-founder Brian Lynch said Ripple’s backing will help the company scale its infrastructure and collateral marketplace on XRPL. ZILO founder and CEO Phil Goffin said the investment will help integrate digital-market utility into ZILO’s platform without adding unnecessary operational risk for institutions. --- ### RLUSD Becomes the Cash Side of Settlement Ripple intends to combine tokenized issuance, custody, collateral utility and multi-currency investment with atomic settlement on XRPL. Its U.S. dollar-backed stablecoin, RLUSD, is positioned as the regulated cash component for delivery-versus-payment transactions. Delivery-versus-payment links the transfer of an asset with the corresponding payment. When executed atomically, both sides settle together or neither side settles. This can reduce settlement risk by preventing a situation in which one participant delivers an asset while waiting for the other participant’s payment to arrive through a separate system. Ripple says tokenized funds supported by this infrastructure could become usable as collateral from the point of issuance. Transactions could then settle on XRPL through a consistent operating model that remains available outside conventional banking hours. This illustrates why stablecoins are becoming increasingly important to institutional tokenization. Representing a fund onchain solves only the asset side of a transaction. A compatible form of digital cash is also needed if institutions want the complete trade to settle through blockchain infrastructure. --- ### Building on Ripple’s Institutional Partnerships The investments build on Ripple’s collaboration with