Key facts: Along with the promised launch of a stablecoin, this would give XRP greater utility. The price of the XRP cryptocurrency remains stable at $0.60. Ripple, the company issuing the XRP cryptocurrency, has announced an initiative to tokenize real-world assets (RWA) on its XRP Ledger network. The company will collaborate with OpenEden, a platform that connects traditional finance with the world of decentralized finance (DeFi). As part of the initiative, Ripple will will tokenize US Treasury bonds worth $10 millionmentioned in a statement. The tokens can be bought, sold and transferred quickly within the Ripple network, it details. In addition, Ripple assures that will implement «strict controls» through mechanisms such as Know Your Customer (KYC) and Anti-Money Laundering (AML) to “ensure the highest standards of security and regulatory compliance.” Tokenization, or representing real physical or financial assets in the form of tokens, may include real estate, works of art, vehicles, intellectual property rightsl, investments in private companies, commodities, financial contracts, among others, as reported by BitcoinDynamic.
“Institutions are increasingly looking for ways to tokenize their real-world assets, and the arrival of Treasury bonds on the XRP Ledger, powered by OpenEden, reinforces the decentralized layer-1 network as one of the leaders for real-world asset tokenization.” Markus Infanger, Senior Vice President at Ripple.
The company explained that Buyers will be able to mint TBILL tokens through stablecoinsThese tokens are digital representations of the Treasury bonds linked to OpenEden. Importantly, this includes Ripple USD, a stablecoin that will be issued later this year. This would give XRP greater utility and could boost its price in the market.
XRP remains stagnant
For now, XRP remains stable near $0.60as seen on a TradingView chart.
XRP Price. Source: TradingView. Over the past three years, XRP has faced difficulties in increasing its price. The cryptocurrency has remained stuck between the $0.2 and $0.9 ranges, remaining 84% away from its all-time high reached in January 2018, when it reached $3.84. As reported by this newspaper, one of the biggest obstacles that XRP has faced in the market stems from the legal clashes between Ripple Labs and the Securities and Exchange Commission (SEC) of the United States.