Bitrabo Editorial
RippleX, the developer arm of Ripple, has teamed up with OpenEden Labs to bring tokenized US Treasury bills (T-bills) to the XRP Ledger (XRPL). OpenEden Labs, a tokenization platform, launched TBILL tokens backed by short-dated US T-bills and reverse repurchase agreements collateralized by US Treasuries.
Expanding Ripple’s Product Portfolio
The addition of tokenized assets on the XRPL aligns with the trend of incorporating real-world assets (RWAs) into blockchain networks. Ripple is investing $10 million in TBILL tokens to enhance the adoption and liquidity of OpenEden’s tokenized T-bills.
Markus Infanger, Senior Vice President at RippleX, highlighted the importance of this integration, stating that tokenized US Treasury bills by OpenEden represent a significant example of real-world asset tokenization for broader utility and opportunities in a decentralized blockchain environment.
OpenEden has secured over $75 million in Total Value Locked (TVL) for its tokenized US T-bills, demonstrating strong market confidence. The platform’s investment-grade “A” rating from Moody’s further reinforces its financial stability and attractiveness to institutional investors.
Jeremy Ng, Co-Founder of OpenEden, mentioned the diverse interest from institutional clients in their offerings, pointing out that buyers can mint TBILL tokens using stablecoins, including Ripple USD.
Ripple’s partnership with Archax in the RWA sector aims to introduce a substantial amount of tokenized RWAs to the XRP Ledger in the near future, expanding its reach within the blockchain ecosystem.
The XRP Ledger, established in 2012, has processed over 2.8 billion transactions and supports more than 5 million active wallets. It boasts a network of over 120 validators without any security breaches.
Currently, XRP is trading at $0.606.