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Ripple Joins Guggenheim to Launch US Treasury-Backed Digital Paper on XRP Ledger
- Guggenheim and Ripple partner to launch US Treasury-backed digital commercial paper on the XRP Ledger (XRPL).
- Ripple invests $10 million to support the DCP launch, enhancing RLUSD's institutional utility.
- The DCP is backed by US Treasurys, rated Prime-1 by Moody’s, offering customizable maturities up to 397 days.
- This partnership expands Guggenheim's blockchain initiatives, following its tokenization of commercial paper on Ethereum.
- The DCP product leverages the XRPL blockchain for efficient and accessible institutional investor access.
- RippleX executive remarks on the industry shift towards tokenization of regulated financial instruments for institutional use.
- Wall Street is embracing the tokenization of tangible assets like US Treasuries, with various investment firms introducing tokenized offerings.
- The value of tokenized US Treasurys exceeds $7 billion, with products like Guggenheim’s DCP facilitating high volume and holding a Prime-1 rating.
- Ripple expands its RLUSD stablecoin and real-world asset access, focusing on bridging institutional finance with crypto networks.
- DCP only offers its product to qualified institutional buyers, providing a yield-bearing asset collateralized by US Treasurys.
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