Ripple has announced a $10 million investment in tokenized U.S. Treasury bills (T-bills) on the XRP Ledger, marking the first time these financial instruments will be available on the blockchain platform.
The strategy also aligns with global regulators’ experiment with tokenization in various financial sectors, including fixed income and asset management.
The T-bills will be issued as TBILL tokens by the tokenization platform OpenEden, according to a Thursday release.
The assets backing the TBILL tokens will be invested in short-dated U.S. Treasuries and reverse repurchase agreements (repos) collateralized by U.S. Treasuries. Repos are securities sold with an agreement to repurchase them at a higher price at a specified future date.
The tokenization of real-world assets and traditional financial securities is an expanding sector within the crypto industry. This approach allows for the issuance, management, and distribution of…
