Tokenized real-world assets (RWA) investment platform OpenEden unveiled plans to launch tokenized United States Treasury bills (T-bills) to the XRP Ledger (XRPL) and its users.
The XRPL is crafted to support institutional-grade financial applications. It offers a solid foundation for RWA tokenization and advanced decentralized finance (DeFi) due to its Automated Market Maker (AMM), upcoming capabilities like Decentralized Identifiers (DID), Multi-Purpose Tokens (MPT), Lending Protocol, and more. Over the past ten years, it has hosted over 1,000 projects, processed more than 2.8 billion transactions without failure or security breaches since 2012, and at present supports over 5 million active wallets with a 120 validator network.
The assets backing OpenEden’s TBILL tokens are invested in short-term United States Treasury bills and reverse repurchase agreements secured by United States Treasuries. Those who mint these tokens undergo rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) screening to maintain high security and regulatory compliance standards.
Furthermore, Ripple will invest $10 million into OpenEden’s TBILL tokens as part of a broader fund. This fund is designated for tokenized Treasury bills issued by OpenEden and other providers.
OpenEden’s Tokenized T-Bills On XRP Ledger Mark Next Phase Of Project Development
The project aims to integrate RWAs into DeFi to unlock significant value. Its Treasury Bills represent a smart contract-based vault that offers contributors direct access to a collection of short-term United States T-Bills and overnight reverse repurchase agreements via the TBILL token. This token is backed on a one-to-one basis by short-term United States T-Bills and a minor amount of United States Dollars.
Recently, the platform exceeded $75 million in total value locked (TVL) for its tokenized United States Treasury Bills, establishing itself as the largest issuer in Asia.
Jeremy Ng, Co-Founder of the OpenEden, noted that introducing tokenized T-bills to the XRP Ledger is the next phase in OpenEden development. According to him, buyers will soon be able to mint TBILL tokens using stablecoins, encompassing Ripple USD, when it becomes available later this year.
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