XRP Ledger tokenizes $120 million in US Treasuries
Ondo increased its US government bond offerings on XRPL by 292% this month.
Last week, the XRP Ledger (XRPL) tokenized $120 million worth of the world’s most senior bonds that define the risk-free rate in finance: US Treasuries. The blockchain continues to be a top choice for financial giants to issuing the most important building blocks of the new financial system.
On February 11, Ondo used XRPL to tokenize another $119 million worth of institutional money market funds providing exposure to US government bonds – increasing its XRPL real world assets (RWAs) by 292%.
The Ondo Short-Term US Government Bond Fund now allows XRPL users to access $160 million and growing worth of bonds backed by the full faith and credit of the US government.
Market Context
As I analyzed yesterday on YouTube, Meta (formerly Facebook), which controls the world’s most popular apps on the planet, has been working on stablecoins for years under its Diem/Libra projects and just announced XRPL technology partners in its upcoming relaunch.
Founder Mark Zuckerberg has testified in front of Congress multiple times regarding this project, and he has remained determined for years to finish this world-changing project properly. He knows XRPL is a key to his success.
XRPL continues to dominate discussions at the highest levels of finance. An analysis by CoinGape earlier this month revealed 63% of tokenized US Treasuries used XRP Ledger for actual issuance, despite headlines about higher transaction volumes on other blockchains.
Most importantly, as I discuss in my in-depth XRP Premium Analysis regarding institutional versus retail dominance, the institutional takeover of capital flows has become very obvious not only in the fundamentals – but also in the XRP chart.
News
Tether invests in Discord-focused subscription payment provider, Whop (X)
ZeroHedge blames Jane Street for bitcoin price manipulation (X)
Defense Sec to Anthropic: Full access by Fri or lose government contract (Associated Press)
Hong Kong launching tokenized bond platform (CoinTelegraph)
US seizes $61M crypto in ‘pig butchering scheme’ (Justice.gov)
ESMA flags many crypto perps as being unregistered CFDs in Europe (Esma)
Empery Digital shareholders seeks CEO out, sell BTC, return cash (GlobeNewswire)
Cipher Mining FY’25: Revenue $223M | Op loss $421M | Net loss $822M | aEBITDA $22M | Rebrands as “Cipher Digital” (GlobeNewswire)
Smarter Web Company secures $30M line with Coinbase (SmarterWebCompany)
BNB treasury company CEA Industries presses CZ’s YZi Labs to release ‘secret side agreement’ (GlobeNewswire)
Binance CEO blasts WSJ Iran report (X)
Bitwise acquires Chorus One staking (GlobeNewswire)
3iQ closes Coincheck deal (PRNewswire)
Kraken lists tokenized equity perps (Businesswire)
Bitcoin Depot to require ID at BTC ATMs (GlobeNewswire)
South Korean man arrested in crypto poisoning case (Chosun)
21Shares launches Strategy Yield ETP (GlobeNewswire)
Nothing in this newsletter is financial or investment advice. We summarize news for informational and entertainment purposes only. We do not provide advisory services, guidance, or information regarding trading or investing. Past performance is not indicative of future results.
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