OpenEden launches tokenized T-Bills on XRP Ledger with $10M investment from Ripple

• OpenEden launches tokenized T-bills on XRP Ledger with Ripple’s $10 million investment.
• TBILL tokens are backed by US T-bills and require KYC and AML compliance.
• $1.5 billion in tokens, including $609 million XRP, are set to unlock in August.

In a groundbreaking move for the intersection of traditional finance (TradFi) and decentralized finance (DeFi), OpenEden, a prominent tokenization platform, has introduced tokenized United States Treasury bills (T-bills) on the XRP Ledger (XRPL).

This initiative, supported by a significant $10 million investment from Ripple, marks a significant milestone in the integration of real-world financial instruments with blockchain technology.

OpenEden’s TBILL tokens

OpenEden’s TBILL tokens are backed by short-term US government T-bills and reverse repurchase agreements, which are collateralized by US Treasurys.

These tokens offer a secure and regulated way for investors to access T-bills via a decentralized platform.

To ensure compliance with regulatory standards, minters of these tokens will undergo rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) screening processes.

Growing trend of institutional access to DeFi through tokenization RWAs

The launch of tokenized T-bills on the XRPL and Ripple’s strategic investment in OpenEden signify a major advancement in the integration of traditional finance with blockchain technology, paving the way for increased institutional participation in decentralized finance.

The tokenized T-bills on the XRPL highlight the growing trend of institutional access to DeFi, driven by the tokenization of real-world assets (RWAs).

Markus Infanger, senior vice president of RippleX, emphasized the significance of this development, stating that the tokenized T-bills exemplify how RWAs are being utilized to create new opportunities and drive utility within the financial ecosystem.

Ripple has invested in OpenEden

Ripple’s investment in OpenEden is part of a broader strategy to support the tokenization of TradFi assets on the XRPL.

The XRPL is designed to power institutional-grade financial use cases, reinforcing its role as a robust and decentralized layer-1 blockchain.

Ripple’s commitment to OpenEden’s initiative underscores its belief in the potential of tokenized assets to transform traditional finance.

$609M worth of XRP tokens to be unlocked in August

In addition to the launch of tokenized T-bills, the crypto community is also anticipating the unlocking of a substantial amount of tokens in August.

A total of $1.5 billion in tokens are set to be released, including $609 million worth of Ripple’s XRP tokens. Historically, Ripple has unlocked 1 billion tokens on the first day of each month since 2017.

However, there are indications that Ripple may re-lock a significant portion of these newly released tokens, as evidenced by the re-locking of 800 million XRP from its June 1 unlock.