Seeds of Wisdom RV and Economic Updates Sunday Morning 8-4-24

August 4, 2024 DINARRECAPS8

Good Morning Dinar Recaps,

OpenEden Introduces Tokenized US Treasury Bills onto the XRP Ledger

"Tokenization platform OpenEden has announced that it will bring tokenized US Treasury bills (T-bills), a short-term US government debt obligation backed by the US Department of the Treasury, to the XRP Ledger (XRPL) and its users for the first time."

"The tokenization of T-bills onto the XRPL is a demonstration of how institutional access to decentralized finance (DeFi) is being driven by the tokenization of traditional real-world assets (RWAs).

The assets backing OpenEden’s TBILL tokens are invested in short-dated US T-bills and reverse repurchase agreements collateralized by US Treasuries. Minters are subject to stringent KYC and AML screening to ensure the highest security and regulatory compliance standards."

"Ripple, the leader in enterprise blockchain and crypto solutions, will also allocate USD$10 million into OpenEden’s TBILL tokens. This is part of a larger fund that Ripple will allocate to tokenized T-bills provided by OpenEden and other issuers."

"OpenEden’s tokenized US Treasury bills represent another exciting example of how all types of real-world assets are being tokenized to drive utility and new opportunities," said Markus Infanger, Senior Vice President, RippleX.

"Institutions are increasingly looking at where to tokenize their real-world assets and the arrival of T-bills on the XRPL powered by OpenEden reinforces the decentralized Layer 1 blockchain as one of the leading blockchains for real-world asset tokenization.”

"Bringing tokenized T-bills to the XRP Ledger is the next step in our exciting journey. Purchasers will be able to mint our TBILL tokens via STABLECOINS, including Ripple USD when it launches later this year.”

"Ripple also recently announced its work with Archax, the UK’s first Financial Conduct Authority regulated digital asset exchange, broker and custodian, that plans to bring hundreds of millions of dollars of tokenized real world assets (RWAs) onto the XRPL over the coming year."

@ Newshounds News™

Read more: Ripple

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Earn 4.97%* U.S. Treasury yields on-chain

"The only tokenized U.S. Treasury product with an “A” rating from Moody’s."

Moody’s Credit Rating
OpenEden’s TBILL is the first and only tokenized product to receive an “investment grade” rating by Moody’s.

"Gain exposure to U.S. Treasuries without the constraints of U.S. trading hours. TBILL token holders enjoy 24/7 minting & redemption, thanks to smart contracts. DeFi projects can build on TBILL's ERC-20 tokens."

TBILL tokens are audited, transparent, and verifiable
"Like you, we live by “don’t trust, verify”. Which is why we launched the market’s first proof-of-reserves that combines off-chain and on-chain auditability. Here is how we open the books."

@ Newshounds News™

Read more: Open Eden

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The OpenEden TBILL tokens are ETHEREUM-BASED ERC-20 standards that are TRANSFERABLE between different blockchain wallets.

"Former senior officials at the Gemini crypto exchange announced that OpenEden, a decentralized finance (DeFi) platform, had launched the first smart contract vault to offer access to US Treasury Bills (T-Bills). According to the announcement, OpenEden will enable stablecoins holders to mint Treasury Bills (T-BILL) tokens through the OpenEden T-BILL Vaul. "

"According to OpenEden, the TBILL tokens are Ethereum-based ERC-20 standards that are transferable between different blockchain wallets."

"There is around $130 billion worth of stablecoins sitting on the sidelines and not generating any meaningful yield. As DeFi yields continue to lag further behind traditional financial asset yields, there is a growing demand for institutional-grade DeFi products that offer low-risk, liquid, and transparent returns to stablecoin holders.”

"By tokenizing real-world assets, OpenEden hopes to open up the blockchain industry to a $300 trillion market that is yet to be tapped on a global scale. Moreover, the cryptocurrency market is about $1 trillion despite being in existence for the past 14 years."