In this post. OpenEden has implemented Ripple's XRP Ledger to tokenize US Treasury securities to XRP.
The launch of TBILL on XRPL could open up access to DeFi activity on the network.
#Ripple has committed $10 million to tokenize TBILL and plans to invest in other tokenized government securities.
OpenEden tokenization platform OpenEden has launched tokenized U. S. Treasury securities on the Ripple #XRP #Ledger , and Ripple Labs announced the news in a press release, adding that it will invest $10 million in the tokenized product.
Treasury securities are short-term government obligations backed by the U. S. Treasury. In recent years, this product has become an example of real asset tokenization on the blockchain. With this launch, #XRP Ledger users will have access to U. S. Treasury securities.
According to a statement from Ripple, the tokenization of Treasury securities on XRPL is part of the process of making decentralized finance more accessible. Investors will be able to mine TBIL tokens using stablecoins, and the mining process will be subject to regulatory standards. This includes strict processes for
"Know Your Customer
" and anti-money laundering.
the partnership with OpenEden is notable for XRPL given the protocol's predecessors: according to DefiLlama, the total value of TBILL tokens tied to the protocol exceeds $90 million on the #BTC and Arbitrum chains. The tokenized instrument is also the first and only A-rated U. S. Treasury security from Moody's rating agency.
For Ripple, this is an opportunity to increase DeFi activity on its XRPL network XRPL is a layer 1 smart contract network and has many features suitable for institutional-level financial applications, although XRPL has several applications, it is not as active on the blockchain as other networks such as Ethereum and Solana.
However, the Ripple Labs team expects this to change with the introduction of this new product.
OpenEden's tokenized U. S.
.
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