Guggenheim Tokenizes Commercial Paper on XRP Ledger

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US investment manager Guggenheim is expanding its digital commercial paper offering through a partnership with Ripple, underscoring the growing convergence between traditional finance and crypto-native enterprises.

Under the partnership, Guggenheim’s subsidiary, Guggenheim Treasury Services, will make its US Treasury-backed fixed-income asset available on the XRP Ledger, according to Bloomberg. Ripple will invest $10 million in the asset as part of the collaboration.

The commercial paper product is fully backed by US Treasurys with customized…



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Guggenheim Tokenizes Commercial Paper on XRP Ledger


US investment manager Guggenheim is expanding its digital commercial paper offering through a partnership with Ripple, underscoring the growing convergence between traditional finance and crypto-native enterprises.

Under the partnership, Guggenheim’s subsidiary, Guggenheim Treasury Services, will make its US Treasury-backed fixed-income asset available on the XRP Ledger, according to Bloomberg. Ripple will invest $10 million in the asset as part of the collaboration.

The commercial paper product is fully backed by US Treasurys with customized…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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