Ripple sees a great opportunity in the expanding tokenization market in Europe.

Europe is emerging as a leading global hub for digital assets, thanks to clarity in regulatory frameworks and an increasingly strong wave of collaboration between traditional banks and blockchain companies.

Cassie Craddock, the UK and Europe Regional Director of Ripple, shared on platform X on October 10 that the EU's Market in Crypto-Assets Regulation (MiCA) has strengthened the confidence of financial institutions in integrating blockchain.

"MiCA has helped banks and financial institutions in Europe feel more confident when entering this industry," Craddock said. "Now, we can see many large banks like Société Générale and BBVA building capabilities for holding digital assets and tokenization, while collaborating with crypto-native companies like Ripple."

However, she also acknowledged that there are still many barriers to overcome in order to fully harness the potential of this sector.

Craddock explains that tokenization technology can support the goals of the EU Savings and Investment Union by reducing costs, increasing efficiency, and expanding access to capital as well as investment opportunities for businesses.

She warned that global competitors are acting very quickly to leverage blockchain innovation and urged the EU to "maintain the pace and momentum of development" in order to protect its competitive advantage.

"We are extremely excited about the opportunities in the blockchain industry in Europe and look forward to contributing to the process of building the future of tokenization," Craddock emphasized.

Her remarks reflect both optimism and urgency as Europe strives to solidify its leading position in digital asset finance, based on clarity in the MiCA legal framework and the spirit of cooperation between the traditional financial sector and blockchain technology.

Thach Sanh