Crypto NewsNewsMajor Deal Announced Between Ripple (XRP) and Wall Street Giant

Major Deal Announced Between Ripple (XRP) and Wall Street Giant

Ripple, the company behind XRP, has announced a deal with a major Wall Street firm. Here are the details.

Follow Bitcoin Sistemi Google News Button

Guggenheim, one of Wall Street’s leading financial institutions, is expanding its investments in the digital asset world. After launching its first digital debt product on Ethereum, Guggenheim Treasury Services is moving it to the XRP Ledger in partnership with Ripple.

With the new move, the digital commercial paper product, fully collateralized by US Treasury bonds, will now be offered on Ripple’s public blockchain, the XRP Ledger. According to RippleX Senior Vice President Markus Infanger, Ripple will invest $10 million in the fixed-income asset.

Additionally, Ripple is evaluating the possibility of using this product in payments and plans to make it available for purchase with the stablecoin developed by the company.

Related News  BREAKING: GameStop Announces Another Bitcoin Purchase - Here's the Earnings Report

The digital debt product, which launched on the Ethereum blockchain last September, has since raised over $280 million in issuance volume. Guggenheim is cementing its place among the companies tokenizing real-world assets, following in the footsteps of giants like Franklin Templeton and BlackRock. Similarly, billionaire investor Michael Novogratz’s Galaxy Digital is also in talks 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 assets tokenized. However, the XRP Ledger aims to grow its role in this space with projects such as connecting real estate titles directly to the blockchain.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week