Key Takeaways:
- Ripple invested $10 million in OpenEden’s initiative to launch tokenized US Treasury bills (T-bills) on the XRP Ledger (XRPL).
- OpenEden’s TBILL tokens are backed by US government T-bills and reverse repurchase agreements, ensuring security and compliance through KYC and AML screenings.
- This marks the first instance of a traditional finance instrument being available on a decentralized platform, highlighting Ripple’s commitment to real-world asset tokenization on the XRPL.
Ripple has invested $10 million in OpenEden’s initiative to launch tokenized United States Treasury bills (T-bills) on the XRP Ledger (XRPL).
OpenEden’s TBILL tokens are backed by short-term US government T-bills and reverse repurchase agreements, ensuring security and regulatory compliance through KYC and AML screenings.
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
This initiative marks the first instance of a traditional finance instrument being available on a decentralized platform.
Ripple’s investment underscores its commitment to the tokenization of real-world assets (RWAs) on the XRPL, driving institutional access to decentralized finance (DeFi).
🚨BREAKING:Tokenization platform OpenEden has announced that it will bring tokenized U.S. Treasury bills to the #XRP Ledger and its users for the first time! 💥
— JackTheRippler ©️ (@RippleXrpie) August 1, 2024
Trillions of dollars will flow into the XRP Ledger! 🔥https://t.co/iNc02VSqlu pic.twitter.com/iciH9vIEPt
Markus Infanger of RippleX highlighted the potential of RWAs to drive utility and new opportunities.
Additionally, $1.5 billion in tokens, including $609 million in XRP, are set to be unlocked in August, with Ripple likely re-locking a significant portion after sales.
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