Ripple To Fund $10 Million For Tokenized Version Of U.S. Treasury Bills (T-bills)

Payment network Ripple will fund $10 million for a tokenized version of U.S. Treasury bills (T-bills), which will be available on the XRP Ledger for the first time. According to a statement released on Thursday, the short-term U.S. government debt is being issued as TBILL tokens by tokenization platform OpenEden.

Assets backing the tokens will be invested in short-dated U.S. Treasuries and reverse repurchase agreements (repos) collateralized by U.S. Treasuries. The tokenization of tangible real assets and traditional financial securities is a growing sector. It allows traditional assets, especially private and alternative assets, to be issued, managed, and distributed in a way that is considered more efficient than their off-chain counterparts.

Ripple’s distribution is part of a larger fund that the company will allocate to tokenized treasury bills provided by OpenEden and other unspecified issuers. Neither OpenEden nor Ripple Labs provided a date for the fund’s distribution in the release.

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