Today, we are delighted to announce that our tokenized US Treasury bills ($TBILL) now support transactions on Ripple XRP Ledger (XRPL) — the first of its kind!
Bringing tokenized T-bills to the Ripple XRP Ledger is the next step in our exciting journey. TBILL tokens are now accessible on our app by qualified XRPL users who are accredited and institutional investors, via stablecoins, including the upcoming Ripple USD later this year.
Ripple, the leader in enterprise blockchain and crypto solutions, has also allocated $10 million into OpenEden’s TBILL tokens. This is part of a larger initiative by Ripple to invest in tokenized T-bills.
“OpenEden’s tokenized US Treasury bills represent another exciting example of how all types of real-world assets are being tokenized to drive utility and new opportunities,” said Markus Infanger, Senior Vice President, RippleX.
Currently, OpenEden has over USD$90 million in Total Value Locked (TVL) allocated to its tokenized US T-bills across Ethereum, Arbitrum, and now the XRPL.
Source: DeFiLlama, 1 Aug 2024
We look forward to working with the Ripple team to drive greater market adoption for tokenized RWA across a broad range of use cases.
The XRPL is built to power institutional-grade financial use cases. Thanks to its proven reliability, efficiency, and roadmap of comprehensive features such as an Automated Market Maker (AMM), as well as the upcoming Decentralized Identifier (DID), Multi-Purpose Tokens (MPT) capability, Lending Protocol, and native Oracle support, the XRPL provides a strong foundation for RWA tokenization and institutional-grade DeFi.
There remains tremendous potential to bring more institutional demand on-chain by partnering with key ecosystem players like Ripple, who share our commitment and approach toward tokenized assets.
If you would like to build on OpenEden’s tokenization engine or bring our TBILL tokens to your dApp or network, reach out to us on our official social media channels.
About OpenEden
OpenEden operates a leading real-world asset (RWA) tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in Bermuda and the BVI, secure, transparent, and compliant on-chain access to tokenized RWA. OpenEden is tokenizing global finance with a core focus on compliance and innovation. To learn more, visit www.openeden.com.
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