Ripple is set to expand the functionality of its XRP Ledger (XRPL) by introducing tokenized U.S. Treasury bills (T-bills).
This initiative comes through a collaboration with OpenEden, a prominent player in the tokenization of real-world assets (RWA).
According to a recent press by Ripple, OpenEden’s TBILL tokens have already attracted considerable institutional interest, with the platform surpassing $75 million in Total Value Locked (TVL). Notably, this tokenized U.S. Treasury product has become the first of its kind to receive an “A” investment-grade rating from Moody’s, further solidifying its credibility in the market.
As part of this initiative, Ripple has committed to investing $10 million in OpenEden’s TBILL tokens, which are backed by short-term U.S. Treasuries. This investment is just a portion of a larger fund that Ripple plans to allocate to OpenEden’s tokenized T-bills, demonstrating the company’s confidence in the potential of this new offering.
Markus Infanger, Senior Vice President at RippleX, emphasized that this investment reflects Ripple’s confidence in OpenEden’s approach to RWA tokenization. He noted that the arrival of T-bills on the XRPL, powered by OpenEden, solidifies the blockchain’s position as a leader in RWA tokenization. Infanger also pointed out that institutions are increasingly exploring options for tokenizing their real-world assets, and XRPL is positioning itself at the forefront of this trend.
The introduction of tokenized T-bills on XRPL is part of a broader trend in the cryptocurrency space. According to data from 21.co, over $1 billion in Treasury bills have already been tokenized on various public blockchains, including Ethereum, Polygon, Avalanche, and Stellar. Ripple’s entry into this space with XRPL adds another major player to the growing list of platforms offering tokenized real-world assets.
Meanwhile, the integration of tokenized T-bills into the XRP Ledger represents a significant milestone for the platform. According to the press release, purchasers will soon be able to mint TBILL tokens using stablecoins, including Ripple USD, which is scheduled to launch later this year. This development is expected to increase the utility and attractiveness of the XRPL ecosystem to a broader range of investors and institutions.
This latest development follows Ripple’s recent partnership with Archax, which was also aimed at boosting XRP Ledger’s dominance in RWA tokenization.
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