Ripple is expanding the utility of its XRP Ledger by offering tokenized US Treasury bills in partnership with OpenEden. This significant move corresponds with the new direction in the tokenization of real-world assets (RWA).
Expanding XRP Ledger Capabilities
Ripple is offering tokenized US Treasury bills (T-bills) on its XRP Ledger platform through a partnership with OpenEden. This will allow XRPL users to access short-term US government debt obligations, paving the way for broader institutional adoption of decentralized finance (DeFi) solutions. “The tokenization of T-bills onto the XRPL is a demonstration of how institutional access to DeFi is being driven by the tokenization of traditional RWAs,” the official release read.
Ripple's Investment in TBILL Tokens
Ripple announced plans to invest $10 million in TBILL tokens from OpenEden, which are backed by short-term US Treasury bills. This investment will be part of a larger fund that Ripple aims to allocate to OpenEden’s tokenized Treasury bills. Markus Infanger, Senior VP at RippleX: “Institutions are increasingly looking at where to tokenize their real-world assets, and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization.”
OpenEden’s Success
OpenEden has already reached $75 million in Total Value Locked (TVL) for its T-bill tokens, attracting significant institutional interest. Jeremy Ng, co-founder of OpenEden: “Bringing tokenized T-bills to the XRP Ledger is the next step in our exciting journey. Purchasers will be able to mint our TBILL tokens via stablecoins, including Ripple USD when it launches later this year.”
Ripple and OpenEden will continue to work on integrating traditional financial instruments into decentralized systems, which is expected to increase institutional interest and enhance the capabilities of XRP Ledger users.
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