The institutional interest in cryptocurrency in Canada has grown significantly since the recent launch of the country’s first spot XRP exchange-traded funds (ETFs) and the introduction of various secure investment solutions offering exposure to XRP (a cryptocurrency and the native token of the open-source XRP Ledger). 

The latest move marks a significant development for the mass adoption of XRP and has set the stage for far-reaching implications in the global crypto market.

The question being asked here is, are gaming platforms set to benefit from the turn to network tokens? Let’s dive straight in to find out. 

Why does Canada’s growing interest in Ripple matter?

Since launching its first spot XRP EFTs in June 2025, Canada has highlighted its progressive stance on the mass adoption of digital assets. 

Other countries could also soon follow suit and use Canada’s initiative, spearheaded by Purpose Investments and 3iQ Corp, as a blueprint, which could potentially speed up the global acceptance of XRP and other similar top-performing cryptocurrencies. 

XRP was created to facilitate the exchange of multiple currencies and improve global financial transfers, and spot XRP ETFs, which track the real-time price of XRP, unlike futures-based ETFs, offer a more accurate representation of its current market value.

They are innovative financial instruments that allow investors access to XRP without directly owning the cryptocurrency. Others have hailed the move as a ground-breaking step in the cryptocurrency space. 

Canadian regulators approved three new XRP ETFs, which boosted institutional demand for cryptocurrencies on local exchanges and are likely to attract more institutional capital into the cryptocurrency market. The launch also bolstered 3iQ’s reputation as a trusted provider of first-to-market digital asset solutions.

As mentioned, XRP is a cryptocurrency and the native token of the open-source XRP Ledger, a decentralized, open-source blockchain that was specifically developed for quicker and lower-costing cross-border transactions.

Are gaming platforms set to benefit from the turn to network tokens?

Network tokens with secure, tokenized representations eliminate the need for sensitive card details and bring many other benefits for individuals and for business owners who operate gaming platforms. 

They are designed to significantly reduce fraudulent activity, reduce interchange fees, enhance security, and streamline/simplify the digital transaction process, which is appealing for gaming platform owners and the people who sign up to play on their platforms. 

The mass adoption of tokens and cryptocurrencies would make online gaming platforms more accessible. According to the iGaming expert Daisy Harrison and many other iGaming experts, Canada’s most trusted iGaming platforms currently don’t accept this digital payment solution. 

However, Canada’s recent institutional interest in cryptocurrency could soon mean that iGaming platforms may one day start accepting cryptocurrencies as a viable deposit and withdrawal method. 

In other words, players may soon be able to top up their gaming accounts, play, and withdraw their winnings using cryptocurrency instead of fiat currency, such as Canadian dollars, and without having to use traditional online payment methods, such as credit and debit cards, prepaid voucher cards, bank transfers, and mobile/digital wallets. 

A closer look at how gaming platforms will benefit from the mass adoption of cryptocurrency

Online gaming platforms typically handle a large volume of transactions, some of which are very large. Network tokens replace the need for traditional payment method information and use secure tokens and higher levels of encryption than traditional payment methods, which makes it near-impossible for cybercriminals to hijack transactions and steal money/sensitive information. 

Card networks also view network tokens as lower risk, and they can lead to lower merchant interchange fees. By leveraging tokens, online gaming platforms will be able to unlock new revenue streams, which would likely include tokenized in-game items or facilitate the trade of virtual/digital assets. 

To sum up, the potential benefits of network tokens for today’s regulated online gaming platforms are significant, especially in areas such as improving security, enhancing the user experience, and fostering the growth of online communities. 

Over the coming years, the gaming industry will continue to evolve, especially if tokenization and blockchain technology are fully embraced by Canadian institutions. Network tokens are expected to play a significant role in revolutionising the online gaming sector and will completely reshape the face of this multi-billion-dollar industry. 

Challenges and considerations 

There are still many challenges and considerations to deal with before mass adoption and the broader acceptance of cryptocurrency is truly realised. It will involve educating players about the numerous benefits of network tokens and how they can dramatically enhance their security. 

However, implementing network tokenization is complex and requires full integration with various established payment systems. 

To ensure safety and security and eliminate the potential of cyberthreats and criminal activities, it’s fundamentally important that payment systems and gaming operators ensure proper integration and management of network tokens. 

Final thoughts

With continued interest in the adoption of cryptocurrencies and tokens, such as spot XRP ETFs, along with combined regulatory clarity, and continued advancements in cross-border payment technology, XRP and gaming platform operators will both benefit, and the future looks bright for both based on the latest developments. 

Crypto tokens have become the building blocks of the decentralized web and offer a broad range of functionalities within various blockchain-based projects and ecosystems. 

The launch of three new XRP ETFs on the Toronto Stock Exchange represents a significant milestone in the evolution of the cryptocurrency market, and experts project that it is only a matter of time before there is mass adoption of tokens and cryptocurrencies take hold in Canada and many other parts of the world.