Guggenheim, one of the leading financial institutions on Wall Street, is expanding its investments in the digital asset world. Following the launch of the first digital debt product on Ethereum, Guggenheim Treasury Services is moving this product onto the XRP Ledger in collaboration with Ripple.
With the new move, the fully collateralized digital commercial paper product backed entirely by U.S. Treasury bonds will now be offered on the XRP Ledger, which is the public blockchain owned by Ripple. According to Markus Infanger, Senior Vice President of RippleX, Ripple will invest 10 million dollars in this yield-bearing asset.
Additionally, Ripple is evaluating the possibility of using this product in payments and plans to make it purchasable with the stablecoin developed by the company.
The digital debt product launched on the Ethereum blockchain last September has since reached an issuance volume of over 280 million dollars. Guggenheim is thus strengthening its position among companies that tokenize real-world assets, following giants like Franklin Templeton and BlackRock. Similarly, billionaire investor Michael Novogratz's company Galaxy Digital is also in discussions with regulators to tokenize its own shares.
Excluding stablecoins, the XRP Ledger currently accounts for a small portion of the $23.4 billion global tokenized asset market, with around $117 million in tokenized assets. However, the XRP Ledger aims to expand its role in this space with projects such as connecting real estate title deeds directly to the blockchain.
*Not investment advice.
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A major deal has been announced between Ripple ( and Wall Street Devil!
Guggenheim, one of the leading financial institutions on Wall Street, is expanding its investments in the digital asset world. Following the launch of the first digital debt product on Ethereum, Guggenheim Treasury Services is moving this product onto the XRP Ledger in collaboration with Ripple.
With the new move, the fully collateralized digital commercial paper product backed entirely by U.S. Treasury bonds will now be offered on the XRP Ledger, which is the public blockchain owned by Ripple. According to Markus Infanger, Senior Vice President of RippleX, Ripple will invest 10 million dollars in this yield-bearing asset.
Additionally, Ripple is evaluating the possibility of using this product in payments and plans to make it purchasable with the stablecoin developed by the company.
The digital debt product launched on the Ethereum blockchain last September has since reached an issuance volume of over 280 million dollars. Guggenheim is thus strengthening its position among companies that tokenize real-world assets, following giants like Franklin Templeton and BlackRock. Similarly, billionaire investor Michael Novogratz's company Galaxy Digital is also in discussions with regulators to tokenize its own shares.
Excluding stablecoins, the XRP Ledger currently accounts for a small portion of the $23.4 billion global tokenized asset market, with around $117 million in tokenized assets. However, the XRP Ledger aims to expand its role in this space with projects such as connecting real estate title deeds directly to the blockchain.
*Not investment advice.
Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, download our Android and IOS Apps to start live price tracking now!