Ripple Invests $10M in OpenEden’s Tokenized U.S. Treasury Bills on XRP Ledger

• OpenEden to debut tokenized U.S. Treasury bills on the XRP Ledger, marking a first for the blockchain platform.
• Ripple invests $10 million in OpenEden’s TBILL tokens, strengthening its role in real-world asset tokenization.
• OpenEden surpasses $75M in TVL for tokenized U.S. T-bills, attracting diverse institutional clients and gaining an “A” rating from Moody’s.

OpenEden has announced that it will introduce tokenized U.S. Treasury bills (T-bills) to the XRP Ledger (XRPL). This marks the first time T-bills, short-term government debt obligations backed by the U.S. Department of the Treasury, will be available on the XRPL. The initiative is a notable development in the growing trend of tokenizing real-world assets (RWAs) on decentralized financial platforms.

Ripple’s $10 Million Investment in TBILL Tokens

Ripple will allocate $10 million to OpenEden’s TBILL tokens, further solidifying its position in the tokenization of traditional assets. These TBILL tokens are backed by short-dated U.S. Treasury bills and reverse repurchase agreements collateralized by U.S. Treasuries.

This investment is part of a larger fund Ripple has set aside for tokenized T-bills from OpenEden and other issuers. OpenEden’s tokens will also require stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) screenings, ensuring compliance with regulatory standards.

Institutional Interest in Tokenized Assets

The introduction of tokenized T-bills on the XRPL aligns with the increasing institutional interest in decentralized finance (DeFi). As institutions explore tokenization, the XRPL’s reliability and efficiency make it a strong contender for hosting institutional-grade financial use cases.

Markus Infanger, Senior Vice President of RippleX, emphasized that the arrival of T-bills on the XRPL, powered by OpenEden, underscores the blockchain’s potential as a leading platform for RWA tokenization.

OpenEden’s Success and Future Plans

OpenEden has already achieved alot, surpassing $75 million in Total Value Locked (TVL) for its tokenized U.S. T-bills. The platform has attracted a diverse range of institutional clients, including foundations, corporate treasuries, and buy-side funds.

OpenEden’s TBILL tokens have also received an investment-grade “A” rating from Moody’s, reflecting confidence in their approach. Notably, purchasers of TBILL tokens will be able to mint them using stablecoins, including Ripple USD, once it launches later this year.