coinspress.com
Ripple has unveiled the integration of US Treasury bills on the XRP Ledger through the tokenization platform OpenEden.
Treasury bills, short-term debt instruments supported by the U.S. government, have already seen over $1 billion tokenized on various public blockchains, including Polygon, Ethereum, and Stellar. Ripple has committed $10 million to TBILL tokens issued by OpenEden.
Markus Infanger, senior vice president at RippleX, highlighted that tokenizing Treasury bills exemplifies the potential for real-world asset tokenization. He noted that institutions are keen on exploring these opportunities, as tokenized Treasury bills offer portfolio diversification benefits. Ripple’s vision for tokenization, outlined earlier this year, emphasizes transparency, enhanced security, and increased access. The tokenization trend is expected to disrupt traditional banks and asset management sectors significantly.
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In March, BlackRock launched a tokenization fund called BUIDT, which now represents nearly a third of the market. This month, the market capitalization of the BUIDL token exceeded $500 million, serving as collateral for DeFi yield products like those from Ondo Finance. BlackRock CEO Larry Fink has previously predicted that tokenization could revolutionize capital market efficiency.
Additionally, Meld Gold announced plans to introduce tokenized gold and silver on the XRP Ledger in the third quarter of this year.