Ripple Allocates $10 Million to Tokenized U.S. Treasury Bills in First Issuance on XRP Ledger

Aug 1, 2024, 10:53 AM

Ripple is set to allocate $10 million to tokenized U.S. Treasury bills (T-bills) on the XRP Ledger, marking the first issuance of such tokens on the network. The initiative is in collaboration with OpenEden Labs, which will bring tokenized T-bills to the XRP Ledger. Ripple is also creating a fund to invest in tokenized T-bills. This move aims to integrate traditional financial instruments with blockchain technology, providing new investment opportunities for accredited and institutional investors. According to RWA_xyz, the total value of tokenized U.S. Treasury securities is currently estimated at $1.92 billion, with a 30-day compounded growth rate of 16%. OpenEden's TBILL tokens will be accessible via their app to qualified XRPL users using stablecoins, including the upcoming Ripple stablecoin.