- A Guggenheim subsidiary has launched a digital commercial paper platform on the XRP Ledger.
- The new tokenized instrument is backed by T-bills and has a top “Prime-1” rating from Moody’s.
- The move is a major step for real-world asset (RWA) tokenization on public blockchains.
In a major step for institutional adoption of public blockchains, a Treasury-backed digital commercial paper instrument has launched on the XRP Ledger. The platform is administered by a subsidiary of financial giant Guggenheim Capital and has received the highest possible short-term debt rating from Moody’s, marking a significant milestone for the tokenization of real-world assets.
The Digital Commercial Paper (DCP) platform, which has already processed over $280 million in issuance since its 2024 debut, will now leverage the XRP Ledger’s infrastructure to offer institutional clients 24/7 trading and faster settlement.
Guggenheim-Administered Platform Earns Top Moody’s Rating
The platform is administered by Guggenheim Treasury Services, a subsidiary of Guggenheim Capital, LLC, one of the largest independent commercial paper managers globally. Guggenheim will issue the DCP through Great Bridge Capital Company, a bankruptcy-remote special purpose vehicle structured to provide robust investor protection.
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This institutional-grade framework allows the company to offer daily pricing for custom maturities of up to 397 days. Crucially, each instrument is fully backed by maturity-matched U.S. Treasury securities. As a result of this secure structure, Moody’s has assigned the DCP its highest short-term debt rating of Prime-1.
Built on the XRP Ledger for 24/7 Settlement and Security
The technological infrastructure enabling the tokenization and management of the DCP is provided by Zeconomy. This integration provides essential services like digital asset governance and seamless connectivity for institutional participants on the XRP Ledger.
The choice of the XRP Ledger leverages its long operational history, having processed over 3.3 billion transactions since 2012 without a security breach. Its decentralized validator network offers reduced transaction costs and accelerated settlement times compared to traditional systems, while also incorporating the compliance and scalability features required for regulated financial assets.
Ripple Invests as Tokenized Asset Market Is Tipped to Hit $19 Trillion
This launch comes as the tokenized real-world asset (RWA) market is projected to see explosive growth, with a recent report from Ripple and BCG forecasting an expansion from $600 million in 2025 to nearly $19 trillion by 2033.
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Ripple itself has committed investment capital to the DCP platform as part of its broader strategy to bring high-quality real-world assets onto the XRPL. This builds on Ripple’s previous investments in the space, including partnerships with tokenized U.S. Treasury projects from Ondo and Archax.
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