The XRP Ledger (XRPL) has launched its Multi-Purpose Token (MPT) standard, aimed at facilitating blockchain adoption among financial institutions. This new standard enables banks and asset managers to issue fungible tokens, such as stablecoins and bonds, directly on the XRPL without requiring custom smart contracts. Key features include token freezing, transaction reversal, and KYC compliance, aligning with traditional financial standards. Martin Hiesboeck from Uphold suggests that the MPT standard could significantly drive mainstream blockchain adoption in traditional finance. Additionally, SBI Ripple Asia has partnered with Tobu Top Tours to create a payment platform for Japan's tourism sector, utilizing the XRP Ledger and integrating MPT tokens and NFTs for services like accommodation and dining.