It is reported that Saudi Aramco has started to tokenize parts of its oil contracts using the ledger #xrp

Insiders familiar with the deal say that the initial pilot project involves the tokenization of contracts linked to 5 million barrels of oil, with unchanged tracking of data settlements and deliveries through the decentralized XRPL network.

This strategic shift aims to optimize international settlements, reduce reliance on intermediaries, and enhance contract transparency.

The pilot program is being developed in partnership with RippleNet infrastructure, and Aramco executives cite lower transaction costs and faster global settlements as key factors driving the integration.

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