The XRP Ledger (XRPL) has recently released version 2.5.0 of its core software, as announced in a statement on June 24. This update brings a range of enhancements aimed at boosting network performance, supporting enterprise-grade functionality, and ensuring compliance with regulations.
With this update, Ripple is signaling its intent to position XRPL as a strong contender in the smart contract and token-based applications space, competing with platforms like Ethereum and Solana.
Key upgrades introduced in this update include batch transactions, token escrow, permissioned decentralized exchanges (DEX), and permission delegation. Batch transactions allow multiple operations to be executed in a single atomic transaction, making it easier for enterprises to handle tasks like airdrops, payroll, and large-scale token distributions.
The expanded token escrow feature now supports trustline-based tokens and multi-purpose tokens, enabling developers to implement time-based or conditional asset releases, which are particularly useful for vesting and DeFi applications. The new PermissionedDEX function allows network participants to restrict trading access to meet compliance standards, a crucial feature for financial institutions entering the blockchain space.
Another significant upgrade is the Permission Delegation system, which enhances security and operational clarity for token issuers. Issuers can delegate specific transaction permissions to designated accounts while maintaining transparency and auditability on the ledger. This feature enables more flexible business structures that separate roles without sacrificing control or security and could support compliance with regulations like MiCA, stablecoin operations, treasury management, and controlled DeFi access.
As these upgrades roll out, XRP, the native token of the XRPL, is witnessing increased institutional interest. CME Group announced on June 24 that both XRP and Micro XRP futures, launched on May 19, have seen significant traction. In the first month alone, the two products generated $542 million in trading volume, with open interest reaching $70.5 million. Institutions, ETF issuers, and retail traders have all shown active participation in these futures markets.
Notably, 45% of the trading volume for XRP futures originated from markets outside the US and Canada, indicating a growing global appetite for XRP exposure. This trend underscores XRP’s evolving role in institutional portfolios and its expanding presence in the cryptocurrency market.
Overall, the latest XRPL update and the increasing institutional interest in XRP signal a promising future for the platform and its native token. With enhanced functionality, regulatory compliance, and growing market adoption, XRPL is poised to make significant strides in the blockchain ecosystem.