Guggenheim partners with Ripple to bring Treasury-backed fixed-income product to XRPL

Guggenheim Partners is launching a Treasury-backed fixed-income product on the XRP Ledger (XRPL) through a new partnership with Ripple, Bloomberg reported on June 10.

Guggenheim Treasury Services, a subsidiary of the firm, will offer tokenized U.S. commercial paper with customized maturities up to 397 days on XRPL. The product is fully backed by U.S. Treasurys and aims to provide institutional-grade fixed-income access in tokenized format.

As part of the deal, Ripple will invest $10 million into the asset, aligning with its broader RWA tokenization strategy. The product may also be purchasable using RLUSD, Ripple’s USD-pegged stablecoin, which has surpassed $300 million in supply and operates on both Ethereum and XRPL.

This move builds on Guggenheim’s earlier blockchain venture, when it tokenized $20 million worth of commercial paper on Ethereum in September 2024, marking its first exploration into on-chain debt instruments.

Tokenized Treasurys and money market funds are rapidly gaining traction. BlackRock, Franklin Templeton and platforms like Securitize are leading efforts to modernize asset distribution and reduce investor barriers.

The Ripple-Guggenheim partnership underscores a broader industry shift as legacy financial institutions adopt blockchain to enhance transparency, efficiency and accessibility in fixed-income markets.