The American investment management company Guggenheim is expanding its digital commercial paper product through a partnership with Ripple, highlighting the growing convergence between traditional finance and crypto-native enterprises.
According to Bloomberg, under this collaboration, Guggenheim's subsidiary Guggenheim Treasury Services will launch its U.S. Treasury-backed fixed-income asset on the XRP Ledger. Ripple will invest $10 million in this asset as part of the partnership.
The commercial paper product is fully backed by the U.S. Treasury and offers customized maturity options of up to 397 days.
Markus Infanger, an executive at RippleX, told Bloomberg that the product may also support purchases using Ripple's USD-pegged stablecoin RLUSD. Since its launch last December, the circulating supply of RLUSD has exceeded $350 million.
Guggenheim's partnership with Ripple is not its first foray into the cryptocurrency space. As previously reported by Cointelegraph, Guggenheim tokenized its $20 million commercial paper product on the Ethereum blockchain in September 2024.
Tokenization is rapidly gaining momentum on Wall Street, with leading financial institutions recognizing the benefits of trading real-world assets (RWA) on-chain.
One of the most notable trends is the tokenization of money market funds, such as BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton's OnChain US Government Money Fund, and Fidelity's tokenized USD money market fund.
Crypto-native companies are also expanding access to tokenized assets for a broader investor base.
As reported by Cointelegraph, the German tokenization protocol Midas recently launched tokenized treasury bonds on the Algorand blockchain. Unlike BUIDL, which requires a minimum investment of $5 million, Midas's product has no investment threshold, allowing more investors to participate.
Meanwhile, blockchain-focused venture capital firm Jump Crypto recently made an undisclosed investment in Securitize, the tokenization platform behind BlackRock's BUIDL.
Securitize has accumulated over $4 billion in on-chain assets, with BUIDL accounting for nearly $3 billion.
Related: Ripple invests an additional $5 million in cryptocurrency research in the Asia-Pacific region
Original article: “Investment Giant Guggenheim Partners with Ripple to Expand Digital Debt Products”
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