tl;dr
The XRP Ledger and OpenEden are partnering to introduce tokenized US Treasury bills to investors, integrating traditional assets into the XRPL ecosystem. This move aims to transform decentralized finance, offering new investment opportunities and enhanced security. The T-bills will be available as T...
The XRP Ledger and OpenEden are partnering to introduce tokenized US Treasury bills to investors, integrating traditional assets into the XRPL ecosystem. This move aims to transform decentralized finance, offering new investment opportunities and enhanced security.
The T-bills will be available as TBILL tokens on the XRPL, backed by US Treasury obligations and collateralized by US Treasuries. Ripple is committing $10 million to support these tokens, emphasizing the potential of real-world assets in decentralized platforms. The XRPL's infrastructure supports institutional-grade financial applications, and OpenEden's TBILL tokens reflect $75 million in Total Value Locked, showcasing market confidence in this approach.
This partnership aims to expand institutional access to DeFi, with plans to bring hundreds of millions of dollars worth of tokenized assets onto the XRPL. The move underscores the evolving landscape of DeFi and the increasing integration of traditional financial instruments with blockchain technology.
In a groundbreaking move, the XRP Ledger will now roll out tokenized US Treasury bills (T-bills) to investors with a Ripple partnership. This development comes through a partnership with OpenEden, a tokenization platform. This move is set to transform decentralized finance (DeFi) space by integrating traditional real-world assets (RWAs) into the XRPL ecosystem. Hence, it’ll provide new investment opportunities and enhanced security.
OpenEden’s introduction of tokenized T-bills to the XRP Ledger marks a significant milestone. T-bills, short-term US government debt obligations backed by the Department of the Treasury, will be available as TBILL tokens on the XRPL. Meanwhile, these tokens are backed by short-dated US T-bills and reverse repurchase agreements collateralized by US Treasuries. To ensure security and regulatory compliance, minters undergo stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) screenings.
In addition, Ripple, the firm behind the crypto XRP, is committing $10 million to OpenEden’s TBILL tokens. This investment is part of a larger fund allocated to tokenized T-bills provided by OpenEden and other issuers. Markus Infanger, Senior Vice President at RippleX, emphasized the importance of this development and stated:
“Tokenized US Treasury bills demonstrate the potential of real-world assets in driving utility and new opportunities on decentralized platforms.” Meanwhile, the XRPL’s robust infrastructure supports institutional-grade financial applications. Its features, including an Automated Market Maker (AMM), Decentralized Identifier (DID), Multi-Purpose Tokens (MPT) capability, Lending Protocol, and native Oracle support, make it a prime platform for RWA tokenization. OpenEden’s TBILL tokens, reflecting $75 million in Total Value Locked (TVL), showcase growing market confidence in this approach.
The partnership between XRP Ledger and OpenEden is not just about technology but about expanding access. OpenEden has attracted a diverse range of institutional clients, including foundations, corporate treasuries, and buy-side funds. Jeremy Ng, Co-Founder of OpenEden, stated, “Bringing tokenized T-bills to the XRP Ledger marks a pivotal step in our journey. Investors will soon be able to mint TBILL tokens via stablecoins, including Ripple USD, set to launch later this year.”
Meanwhile, Ripple’s collaboration with Archax, the UK’s first Financial Conduct Authority-regulated digital asset exchange, further underscores the growing momentum. Archax plans to bring hundreds of millions of dollars worth of tokenized RWAs onto the XRPL over the next year. Since its inception, the XRP Ledger has supported over 1,000 projects, processed more than 2.8 billion transactions without any failures or security breaches, and maintained over 5 million active wallets.
With over 120 validators, the network remains a beacon of reliability and innovation in the blockchain space. This strategic move to tokenize US Treasury bills on the XRPL highlights the evolving landscape of DeFi and the increasing integration of traditional financial instruments with blockchain technology. As institutional interest grows, the new partnership stands poised to offer secure, efficient, and innovative investment solutions for a diverse range of stakeholders.
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: Manufacturing, Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Market Cap: 9.15B
Current Price: $11.76
Price Change: $0.20
Change Percent: 3.46%
PE Ratio: 79.23
EPS: $0.0489
Revenue: 17.74B
EPS Estimate Current Year: $45.11
EPS Estimate Next Year: -$0.129
EPS Estimate Next Quarter: -$0.069
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