OpenEden moves to tokenize US Treasury bills on the XRP Ledger.
Ripple invests $10 million in OpenEden’s tokenized T-bills.
XRPL enhances its position in real-world asset tokenization.
As a significant milestone for the XRP Ledger (XRPL), the tokenization platform OpenEden has introduced tokenized U.S. Treasury bills (T-bills), or TBILL tokens, on the XRPL.
Ripple announced this development via an official press statement today, noting it is a significant step towards integrating traditional financial assets with blockchain technology.
The tokenized T-bills, short-term U.S. government debt obligations backed by the Department of the Treasury, will be available on the XRPL. OpenEden’s TBILL tokens are backed by investments in short-dated U.S. T-bills and reverse repurchase agreements collateralized by U.S. Treasuries. To ensure security and regulatory compliance, OpenEden mandates stringent know-your-customer (KYC) and anti-money laundering (AML) screening for all participants.
Ripple, a leader in enterprise blockchain and crypto solutions, has committed $10 million to OpenEden’s TBILL tokens. This investment is part of Ripple’s broader strategy of allocating funds to tokenized T-bills from OpenEden and other issuers.
Markus Infanger, Senior Vice President of RippleX, highlighted the importance of this move, stating, “OpenEden’s tokenized US Treasury bills represent another exciting example of how all types of real-world assets (RWAs) are being tokenized to drive utility and new opportunities.”
The XRPL is known for its reliability and efficiency in handling institutional-grade financial use cases. The blockchain is designed to support various features, including AMM, DID, MPT capability, Lending Protocol, and native Oracle support. These are features that make the XRPL an ideal platform for the tokenization of real-world assets.
Reflecting growing market confidence, OpenEden has recently surpassed $75 million in Total Value Locked (TVL) for its tokenized US T-bills. Additionally, OpenEden’s TBILL tokens are the first and only tokenized U.S. Treasury products to receive an investment-grade “A” rating from Moody’s rating agency.
Jeremy Ng, Co-Founder of OpenEden, expressed enthusiasm for the partnership, stating, “Bringing tokenized T-bills to the XRP Ledger is the next step in our exciting journey.”
Since its inception, the XRPL has been a reliable and secure blockchain, processing over 2.8 billion transactions without failure or security breach. It supports over 1,000 projects and has over 5 million active wallets, backed by a network of over 120 validators.
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