Ripple to Float US T-Bills on XRP Ledger

American blockchain payments firm Ripple Labs Inc said it is on track to introduce US Treasury Bills (T-Bills) on the XRP Ledger (XRPL). As revealed in a post on X, the initiative will be made possible through the tokenization platform OpenEden.

The Plan for the Ripple Tokenized T-Bills

According to the announcement, Ripple is launching a fund to invest in tokenized T-bills, with $10 million allocated to OpenEden’s TBILL tokens. 

News alert – tokenization platform @OpenEden_Labs is bringing tokenized US Treasury bills (T-bills) to the #XRPL! What’s more, Ripple is creating a fund to invest in tokenized T-bills, and will allocate USD$10M to OpenEden’s TBILL tokens as part of it. https://t.co/8GsG1Mk3ER

— RippleX (@RippleXDev) August 1, 2024

Notably, T-bills are short-term investment instruments, which means they have shorter maturities than bonds and notes. Backed by the US government, T-bills have a set face value, such as $1,000, $5,000, or $10,000, however, they may normally be purchased for less. 

Tokenizing US T-bills on XRPL gives users a diversified form of investment. Compared to other investment options, T-bills are less risky because they get their backing from the government. Additionally, T-bills are more accessible to traders as it can be purchased in smaller amounts.

So far, US Treasury notes valued at over $1 billion have already been tokenized on open blockchains including Ethereum, Polygon, and Stellar.

Ripple’s Tokenization Efforts

It is important to note that the introduction of tokenized US T-bills on XRPL is just one of Ripple’s tokenization initiatives. As BGEcrypto reported, Ripple tapped a partnership with the UK’s crypto exchange Archax for RWA tokenization on XRPL. The deal is an extension of the partnership, formed in 2022 when Archax collaborated with Metaco.

Meanwhile, the XRP Ledger has grown to be a top-performing blockchain network. In July, the network recorded an all-time high in the number of new wallets. Notably, XRPL recorded an average of 1,721 new wallets generated within a day, with 47,363 individual active addresses.

This remarkable accomplishment comes after the network’s Total Value Locked (TVL) which surpassed $10 million in late June.

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