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Ripple Notches Major Institutional Win As Wall Street Titan Guggenheim Tokenizes Digital Commercial Paper On XRP Ledger
- Guggenheim Treasury Services, a subsidiary of Guggenheim Partners, has tokenized its Digital Commercial Paper (DCP) product on the XRP Ledger (XRPL).
- DCP, a fixed-income asset backed by U.S. Treasuries rated Prime-1 by Moody’s, was initially launched on Ethereum and is now live on XRPL offering customized maturity options.
- The move to tokenize DCP on XRPL was managed through the Zeconomy platform, enabling real-time finance on the ledger.
- Ripple plans to explore the use of DCP for cross-border payments in collaboration with Guggenheim Treasury Services.
- Markus Infanger, Senior Vice President of RippleX, emphasized the evolution of tokenization from experimentation to production in global financial markets.
- Guggenheim's DCP, after $280 million in issuance on Ethereum, is now leveraging XRPL for real-time settlement, low fees, and improved accessibility.
- By rolling out DCP on XRPL, Guggenheim aims to modernize the issuance, transaction, and integration of commercial paper into global treasury and liquidity systems.
- Ripple's $10 million investment in DCP is part of its initiative to introduce institutional real-world assets to XRPL, aligning with previous investments in tokenized treasuries.
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