U.S. financial giant Guggenheim issues digital bonds on the XRP Ledger, according to reports.

## Expansion of RWA tokenization on the XRP Ledger

According to a report by Bloomberg on the 10th, US Wall Street financial giant Guggenheim Treasury Services (GTS) has partnered with cryptocurrency company Ripple to begin issuing Digital Commercial Paper (DCP) on the XRP ledger (XRPレジャー). The company successfully launched its first digital bond product on Ethereum last September, and this development is an extension of that.

Ripple is planning to invest $10 million in Guggenheim's DCP program through this partnership. According to Marcus Infanger from RippleX, the company is also considering the use of DCP in the payments sector and the purchase support for Ripple's stablecoin "RLUSD."

DCP is fully collateralized by U.S. Treasury bonds and is offered daily with custom maturities of up to 397 days. It is tokenized and managed through the fintech company Zeconomy's platform, and has received the highest rating of Prime-1 for short-term financial products from Moody's.

Guggenheim is a subsidiary of Guggenheim Partners, a major financial services firm managing over $300 billion in assets, and GTS has a track record of issuing and redeeming over $10.3 trillion in asset-backed commercial paper (ABCP) as one of the largest issuers of ABCP in its 27-year history.

Since the launch on Ethereum in September last year, Guggenheim has announced that it has processed over $280 million in issuance. On the other hand, according to data from RWA.xyz, approximately $20.5 million has been issued on Ethereum, and currently, two investors hold these tokens.

This movement is part of the trend of tokenization of real-world assets (RWA) following major financial firms such as Franklin Templeton and BlackRock. According to RWA.xyz, the market for tokenization of physical assets, excluding stablecoins, is sized at 23.4 billion dollars, and while the XRP ledger is relatively small at about 117 million dollars, it is also testing blockchain integration for real estate title deeds.

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