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The tokenization platform OpenEden is utilizing Ripple’s XRP Ledger (XRPL) blockchain to introduce TBILL tokens that are backed by tokenized U.S. Treasury bills.
Short-term U.S. government debt instruments, supported by reverse repurchase agreements from the Treasury Department, will be tokenized on the XRP Ledger blockchain. As stated in Ripple’s press release, any user of XRPL will have the ability to mint TBILL tokens on the OpenEden tokenization platform.
Individuals interested in minting TBILL will need to complete an AML-compliant KYC process to ensure that the tokens adhere to regulatory and security requirements.
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Markus Infanger, Senior Vice President at RippleX, noted that the tokenized T-bills on XRPL illustrate the advancement of institutional access to decentralized finance (DeFi) through the tokenization of real-world assets (RWA). He asserts that XRPL possesses all the essential features to enhance the utility of RWAs and create new possibilities for employing traditional financial instruments on the blockchain.
Ripple Labs has invested $10 million in OpenEden for the issuance of TBILL and future RWA tokenization initiatives. The press release indicates that this investment in the DeFi platform is part of a larger strategy to facilitate the tokenization of traditional financial assets on the XRP Ledger.
The market for tokenized U.S. Treasury bills has surpassed $1 billion this year and, as per analysts’ predictions, may reach $3 billion by the year’s end.
Сообщение XRP Ledger Issues Tokenized U.S. Treasury Bills появились сначала на CoinsPaid Media.
