Key Takeaways:
- Guggenheim Partners will issue a U.S. Treasury-backed fixed-income product on the XRP Ledger in partnership with Ripple.
- Ripple is investing $10 million in the product, which may be available for purchase using its RLUSD stablecoin.
- The move reflects broader momentum in tokenized Treasurys, now exceeding $7 billion in market value.
Guggenheim Partners, through its subsidiary Guggenheim Treasury Services, has partnered with Ripple to launch a U.S. Treasury-backed fixed-income product on the XRP Ledger.
This initiative marks a significant step in the growing convergence of traditional finance and blockchain technology.
Apex 2025: Digital Commercial Paper DCP is now live on the XRP Ledger. Administered by Guggenheim Treasury Services, one of the largest independent commercial paper platform managers in the world and powered by Zeconomy: https://t.co/Ic4YdUnNry
— RippleX (@RippleXDev) June 10, 2025
With $280M+ in issuance, DCP is…
The commercial paper product is fully backed by U.S. Treasurys and offers flexible maturity options of up to 397 days.
Ripple is backing the move with a $10 million investment, and the asset may become purchasable using RLUSD, Ripple’s U.S. dollar-pegged stablecoin.
Since launching in December, RLUSD has reached over $350 million in circulating supply and operates on both the Ethereum network and the XRP Ledger.
This follows Guggenheim’s earlier blockchain venture, when it tokenized a $20 million commercial paper on Ethereum in September 2024.
The tokenization of real-world assets (RWAs) is accelerating across Wall Street, with BlackRock, Franklin Templeton, and Fidelity offering tokenized money market funds.
On the crypto-native front, Midas and Securitize are expanding access to tokenized Treasurys.
Midas launched a product on Algorand with no minimum investment, while Securitize now holds over $4 billion in onchain assets, nearly $3 billion from BlackRock’s BUIDL fund.
Overall, tokenized U.S. Treasurys now exceed $7 billion in market value.
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