XRP’s mainstream adoption is set to skyrocket after tokenization platform OpenEden announced tokenized US treasury bills to the XRP Ledger for the first time. These T-bills are a short-term US government debt obligation backed by the US Department of the Treasury. The tokenization of T-bills onto the ledger highlights how traditional assets are being adapted for decentralized finance [DeFi].
OpenEden’s TBILL tokens are subject to rigorous KYC [Know Your Customer] and AML [Anti-Money Laundering] checks. As the leader in enterprise blockchain and crypto solutions, Ripple will invest $10 million into OpenEden’s tokenized T-bills as part of a larger fund aimed at supporting such tokenization efforts.
“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, of RippleX. “Institutions are increasingly looking at where to tokenize their real-world assets and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization.”
Ripple views the integration of T-bills onto XRPL as a significant step for real-world asset tokenization, showcasing the ledger’s potential for institutional finance. As per the press release, OpenEden has surpassed $75 million in Total Value Locked [TVL] for its tokenized T-bills and has earned an “A” rating from Moody’s.
Furthermore, Ripple is teaming up with Archax to bring more tokenized real-world assets to XRPL, which has a solid track record of handling billions of transactions securely. This move is a major milestone for the Ripple network and demonstrates the expanding role of blockchain in traditional finance.
XRP Bulls Rejoice as 6.5-Year Downtrend Breaks
Over the past decade, the XRPL has hosted over 1,000 projects, processing over 2.8 billion transactions without failure or hacks since 2012. It has been home to over 5 million active wallets with a network of over 120 validators.
On the price front, XRP’s monthly Relative Strength Index [RSI] has maxed out on a long-standing downtrend. This bullish signal has ignited excitement among XRP investors, who have endured years of price fluctuations. While this development is seen as a positive indicator, it’s crucial to remember that market conditions can be volatile, and past performance is not indicative of future results.