Guggenheim, a renowned investment giant, is making waves in the financial world by teaming up with Ripple to expand its digital debt offerings.
Guggenheim Treasury Services, a subsidiary of Guggenheim, has announced the launch of Digital Commercial Paper (DCP) on Ripple’s XRP Ledger. This initiative aims to provide institutional investors with access to short – term debt instruments through decentralized finance networks. Backed by US Treasuries, the DCP will leverage the XRP Ledger’s advantages of round – the – clock trading, rapid settlement, and low – cost transactions. As part of the collaboration, Ripple will invest $10 million in the DCP project.
The commercial paper product comes with customized maturity options of up to 397 days and is fully supported by US Treasuries. This partnership between Guggenheim and Ripple highlights the growing integration of traditional finance and crypto – native enterprises. It is a significant step forward in the evolution of digital finance, potentially opening up new avenues for investment and financial innovation.
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