Ethereum

DeFi

Read

BlackRock

<p class="is-style-lead">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.</p> 
<p>According to a Thursday <a href="https://ripple.com/ripple-press/openeden-introduces-tokenized-us-treasury-bills-onto-the-xrp-ledger/" target="_blank" rel="">press release</a>, this will be the first time the short-term U.S. government debt, backed by U.S. Treasuries and collateralized reserve repurchases, will be available on the XRP Ledger to XRP (<a href="https://crypto.news/price/xrp/">XRP</a>) holders.</p> 
<h2 class="wp-block-heading" id="ripple-to-unveil-fund-to-invest-in-tokenized-assets">Ripple to unveil fund to invest in tokenized assets</h2> 
<p>Ripple stated in the press release that its investment in OpenEden’s tokenized assets will be through a newly created fund. Although the company has not disclosed specific details about the fund, it did note that $10 million from this fund will be invested in OpenEden’s TBILL tokens.</p> 
<p>This investment is part of a larger strategy Ripple is pursuing related to tokenized T-bills and the broader Real-World Assets (RWA) market.</p> 
<p>“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,” Markus Infanger, senior vice president at RippleX, said.</p> 
<p>The introduction of T-bills on the XRP Ledger strengthens the growing RWA tokenization market, the RippleX senior VP noted.</p> 
<p> Read more: <a href="https://crypto.news/ripple-bids-for-dominance-in-asia-with-new-blockchain-fund/"> Ripple bids for dominance in Asia with new blockchain fund </a> </p> 
<h2 class="wp-block-heading" id="mint-tbill-with-stablecoins">Mint TBILL with stablecoins</h2> 
<p>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 will include Ripple USD, a U.S. dollar-pegged stablecoin that Ripple plans to launch later this year.</p> 
<p>Currently, the top stablecoins in the market are Tether’s USDT and Circle’s USDC.</p> 
<h2 class="wp-block-heading" id="real-world-assets-market">Real-world assets market</h2> 
<p><a href="https://crypto.news/real-world-assets-2024-is-the-breakthrough-year-for-tokenization-opinion/">Tokenization</a> is an expanding market as more financial securities and other real-world assets are brought on-chain. The benefits of blockchain technology have attracted significant players, including BlackRock, who have brought millions of dollars’ worth of traditional assets on-chain.</p> 
<p> You might also like: <a href="https://crypto.news/blackrock-digital-asset-ethereum/"> BlackRock starts digital asset fund supported by $100m on Ethereum </a> </p> 
<p>While Ripple is poised to welcome its first tokenized U.S T-bills, the company has seen traction in the RWA space with recent developments.</p> 
<p>According to Team Ripple, XRP Ledger’s support for automated market makers, lending protocols, native oracles, and decentralized identifiers are some of the features that make the open-source blockchain crucial to the RWA and DeFi markets.</p>

Ripple to allocate $10m to tokenized U.S. T-bills on XRP Ledger

Table of Contents

crypto.news

Other articles published on Aug 1, 2024

What is Duko Memecoin?

U.S. Gold Could Fund Bitcoin Buy, Says Analyst: Lummis Bill in Focus

Mt. Gox Repayments Now Completed for Over 17,000 Creditors

ZKX Protocol Closes, Triggering Over 50% Drop in ZKX Token Value

Is Bitcoin Dropping Below $65K a Sign of Further Decline in August?

Wormhole Plans Major W Token Unlock

Join our free newsletter for daily crypto updates!