Tokenization platform OpenEden has launched tokenized U.S. Treasury bills (T-bills) on the XRP Ledger (XRPL), extending its TBILL product from Ethereum and Arbitrum to Ripple’s native network. The TBILL tokens represent exposure to a pool of short-dated U.S. T-bills and reverse repurchase agreements collateralized by U.S. Treasuries, with underlying assets managed and custodied by regulated institutions and backed 1:1 by the securities they reference. Access is limited to accredited and institutional investors who must pass know-your-customer and anti–money laundering checks, and tokens can be minted via stablecoins, with support for Ripple’s planned Ripple USD stablecoin expected later. Ripple is supporting the launch by allocating $10 million to OpenEden’s TBILL tokens as part of a broader fund dedicated to tokenized T-bills on XRPL. OpenEden’s TBILL fund has grown to tens of millions of dollars in total value locked and has received investment‑grade ratings from major agencies, positioning it as one of the more institutionally focused tokenized Treasury products in the market. The move is framed by both OpenEden and Ripple as a step in bringing real‑world assets (RWAs) into decentralized finance on XRPL, aiming to offer on-chain access to U.S. government debt yields while maintaining regulatory and risk-management standards more familiar to traditional finance.

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