Ripple Introduces US Treasury Bills on XRP Ledger
Ripple has unveiled the integration of US Treasury bills on the XRP Ledger through the tokenization platform OpenEden.
Treasury bills, short-term debt instruments supported by the U.S. government, have already seen over $1 billion tokenized on various public blockchains, including Polygon, Ethereum, and Stellar. Ripple has committed $10 million to TBILL tokens issued by OpenEden.
Markus Infanger, senior vice president at RippleX, highlighted that tokenizing Treasury bills exemplifies the potential for real-world asset tokenization. He noted that institutions are keen on exploring these opportunities, as tokenized Treasury bills offer portfolio diversification benefits. Ripple’s vision for tokenization, outlined earlier this year, emphasizes transparency, enhanced security, and increased access. The tokenization trend is expected to disrupt traditional banks and asset management sectors significantly.
READ MORE: Macro Expert Suggests Bitcoin-Linked Treasuries to Tame Inflation
In March, BlackRock launched a tokenization fund called BUIDT, which now represents nearly a third of the market. This month, the market capitalization of the BUIDL token exceeded $500 million, serving as collateral for DeFi yield products like those from Ondo Finance. BlackRock CEO Larry Fink has previously predicted that tokenization could revolutionize capital market efficiency.
Additionally, Meld Gold announced plans to introduce tokenized gold and silver on the XRP Ledger in the third quarter of this year.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
