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In an interesting claim shared on the social media platform X (formerly Twitter), market expert OxChain suggested an alleged connection between the world’s largest asset manager, BlackRock, and the blockchain payment company, Ripple. OxChain alleges that the two companies essentially work as one entity under different names. The expert backs this assertion with what it describes as leaked documents.
At the heart of this speculation is BlackRock CEO Larry Fink, who has asserted that the next evolution of financial markets will revolve around tokenization.
Fink envisions the on-chain representation of over $100 trillion worth of stocks, bonds, and real estate. However, Oxchain asserts that achieving this ambitious goal hinges on one critical component: digital identity.
Enter Ripple, known for its blockchain technology that underpins the XRP Ledger (XRPL). Through a partnership with Ondo Finance, Ripple has begun hosting tokenized US Treasuries, which are identified by the ticker OUSG.
These tokenized assets are supported by money market funds, including those managed by BlackRock itself. This collaboration positions Ripple as the infrastructure provider while BlackRock offers the necessary liquidity.
Adding complexity to this narrative is the interconnectivity among key players in the financial sector. Nathan Allman, co-founder of Ondo Finance, has ties to Goldman Sachs, a connection that links him to the upper echelons of BlackRock.
This alleged “web” extends to Gary Gensler, the former US Securities and Exchange Commission (SEC) Chair who initiated the lawsuit against Ripple, suggesting a closed loop among influential figures in finance.
The plot thickens with the revelation that BlackRock has launched an exchange-traded fund (ETF) named XDNA, which focuses on genomics and health data.
Coincidentally, on the same day that this ETF was unveiled, a crypto token called XDNA was launched on the XRP Ledger. This token aims to integrate sovereign DNA identity and encrypted medical records.
The timing raises eyebrows, especially as it coincides with significant political events, including the signing of the “One Big Beautiful Bill” by President Donald Trump recently.
Brad Garlinghouse, Ripple’s CEO, has commented on the government’s role in identity management, suggesting that Ripple is not merely challenging the existing system but is poised to replace its foundational elements.
The XRP Ledger is reportedly equipped to support decentralized identity systems and sovereign data layers, according to the expert, which align seamlessly with BlackRock’s strategy for asset tokenization.
Moreover, BlackRock’s Aladdin platform, an AI-driven system managing over $20 trillion in assets, is rumored to be testing the XRPL for cross-border payment solutions.
With the recent adoption of ISO 20022 standards for financial message interoperability between financial institutions by Fedwire, which aligns with the XRPL framework, OxChain believes that integration seems inevitable.
The expert further stated that both BlackRock and Ripple appear to be charting parallel paths in tokenization across various asset classes, including real estate, commodities, and carbon credits.
Oxchain concluded his theory by noting that if Ripple does become the foundation for tokenized capital and digital identity, and BlackRock provides the investment backing, their strategy to transform the financial system may already be underway.
Featured image from DALL-E, chart from TradingView.com
