The new action will allow the digital commercial paper product, which is completely collateralized by US Treasury bonds, to be issued on the XRP Ledger, Ripple's public blockchain.
Senior Vice President Markus Infanger of RippleX has stated that Ripple will invest $10 million in the fixed-income asset. Furthermore, Ripple is considering whether this product might be used as payment and intends to offer it for sale using the stablecoin that the business has created.
The XRP Ledger presently holds about $117 million in tokenized assets, which represents a modest percentage of the $23.4 billion worldwide tokenized asset market, excluding stablecoins.
Nonetheless, the XRP Ledger hopes to expand its position in this field by initiatives like integrating real estate titles with the blockchain directly.