Ripple will allocate $10 million into tokenized U.S. Treasury bills that Asia’s largest tokenization platform OpenEden plans to issue on the XRP Ledger. OpenEden introduced this in an effort to offer short-term U.S. government debt to XRP holders.
Ripple’s investment in these tokenized assets will be through a new fund. The company did not provide specific details about the fund but stated that $10 million from it will be invested in OpenEden’s TBILL tokens.
This move aligns with Ripple’s strategy relating to tokenized T-bills and the broader Real-World Assets (RWA) market.
“OpenEden’s tokenized US Treasury bills represent another exciting example of how all types of real-world assets are being tokenized to drive utility and new opportunities,” said Markus Infanger, senior vice president at RippleX. The introduction of T-bills on the XRP Ledger strengthens the RWA tokenization market, according to Infanger.
OpenEden, which holds over $75 million in total value locked for its U.S. T-bills, announced that users will be able to mint TBILLs using stablecoins. This includes Ripple USD, a U.S. dollar-pegged stablecoin that Ripple plans to launch later this year.
Currently, the top stablecoins in the market are Tether’s USDT and Circle’s USDC.
Tokenization is an expanding market as more financial securities and real-world assets are brought on-chain. Blockchain technology has attracted significant players, including BlackRock, which has tokenized millions of dollars’ worth of traditional assets.
Ripple is poised to welcome its first tokenized U.S T-bills. The company has gained traction in the RWA space with recent developments.
According to Team Ripple, XRP Ledger’s support for automated market makers, lending protocols, native oracles, and decentralized identifiers makes the open-source blockchain crucial to the RWA and DeFi markets.
