Ripple (XRP-USD) is diving into the deep end of blockchain innovation with its latest venture: investing $10 million in tokenized U.S. Treasury bills (T-bills) on the XRP Ledger. This move marks the debut of these government securities as digital tokens on Ripple’s platform.
Ripple’s Fresh Spin on T-Bills
Ripple’s $10 million bet is part of a larger push to modernize financial assets through tokenization. OpenEden, the platform behind these TBILL tokens, is converting short-term U.S. government debt into digital assets. These tokens are backed by short-dated U.S. Treasuries and reverse repurchase agreements.
Markus Infanger, Senior Vice President of RippleX, shared, “OpenEden’s tokenized US Treasury bills represent another exciting example of how all types of real-world assets are being tokenized to drive utility and new opportunities.” This effort is a testament to how traditional financial instruments are evolving in the digital age.
A Growing Trend
Ripple’s move is part of a broader trend of bringing traditional assets into the blockchain space. Major financial players are getting involved, including BlackRock (BLK). In March, BlackRock launched its USD Institutional Digital Liquidity Fund on the Ethereum (ETH-USD) blockchain, which is also backed by U.S. Treasury bills and repos. This indicates a growing confidence in using blockchain for traditional financial assets
Furthermore, OpenEden’s TBILL tokens have already accumulated over $75 million in total value locked and earned an “A” rating from Moody’s, showing strong market confidence.
What Is XRP’s Price?
At the time of writing, Ripple is sitting at $0.6094, up 29.28% over the past three months.
