US investment manager Guggenheim expands the digital commercial paper offering through a cooperation with Ripple, emphasizing the growing scene between traditional finances and crypto-native businesses.
Under collaboration, the Guggenheim subsidiary, Guggenheim Treasury Services, will make the US Treasury property available to the XRP Ledger, according to Bloomberg. Ripple will invest $ 10 million in possession as part of the collaboration.
The commercial paper product is fully -backed by the US Treasurys with customized maturity options up to 397 days.
Ripplex executive Markus Infanger told Bloomberg that the product could also be used for purchase using the US dollar-pegged stablecoin of Ripple, RLUSD. Because of this Launch in DecemberRLUSD supply exceeds $ 350 million.
The Ripple Partnership is not Guggenheim’s first foray in the cryptocurrency sector. Number Previously reported by CointelegraphGuggenHeim has shown the $ 20 million commercial paper that offered the Ethereum Blockchain in September 2024.
Related: Dubai Regulator Greenlight Ripple’s Rlusd Stablecoin
Wall Street Eyes RWA Tokenization
The tokenization quickly gets momentum on Wall Street, as leading financial institutions recognize the benefits of enabling real-world assets (RWAs) to exchange onchain.
Among the most popular trends are the tokenization of funds in the money market, presented by USD Institutional Digital Liquidity Fund of Blackrock (Buidl)Franklin Templeton’s Onchain US Government Money Fund, and Fidelity’s Tokenized US Dollar Money Market Fund.
Crypto-native companies also expand access to tokenized assets for a broader investor base.
Number Cointelegraph reportedThe German tokenization protocol recently launched a tokenized bill to Algorand Blockchain. Unlike Buidl, which requires a minimum investment of $ 5 million, the Midas product has no minimum investments, making it accessible to more investors.
Meanwhile, the blockchain -dedicated firm dedicated to Jump Crypto recently made a Unexpected investment in NegotiaryThe tokenization platform behind the Buidl of Blackrock.
Securitize accumulated more than $ 4 billion in Onchain assets, with Buidl Accounting for nearly $ 3 billion.
Related: Blackrock ‘Buidl’ Tokenized Fund Triple in 3 weeks as Bitcoin Stalls
