Ripple will allocate $10 million to tokenized U.S. Treasury bills on the XRP Ledger, marking the platform’s first issuance of such tokens. This move is part of a larger fund dedicated to tokenized T-bills provided by OpenEden and other issuers.
The tokenized T-bills will be issued as TBILL tokens by the tokenization platform OpenEden. These assets will be invested in short-dated U.S. Treasuries and reverse repurchase agreements (repos) collateralized by U.S. Treasuries. Repos are securities sold with an agreement to repurchase them at a higher price at a specified future date.
This initiative reflects a broader trend in the crypto industry, where real-world assets and traditional financial securities are being tokenized. This process is considered more efficient and is attracting major participants like BlackRock. In March, BlackRock released its USD Institutional Digital Liquidity Fund on the Ethereum blockchain, backing it with U.S. Treasury bills, repo agreements, and cash.
Ripple’s investment is part of a larger fund the company will allocate to tokenized T-bills provided by OpenEden and other unspecified issuers. The allocation dates were not specified by either OpenEden or Ripple Labs.
The XRP Ledger (XRPL) is an open-source blockchain that uses the cryptocurrency XRP to facilitate global financial transfers and currency exchanges. As of Thursday, over $780 million worth of funds are locked in tokenized versions of U.S. Treasuries, according to tracking site rwa.xyz.
