Tokenized U.S. Treasury Market to Reach $3 Billion; Ripple Allocates $10 Million Fund, Offering 5.0% APY

The market for tokenized U.S. Treasury securities is projected to exceed $3 billion by the end of 2024, driven by their stable yields and security during market volatility, according to analysts from 21.co.

A recent report from EY Parthenon highlights increasing institutional interest in tokenized assets for portfolio diversification.

In a significant development, Bake, a crypto super-app, has partnered with OpenEden Labs to offer tokenized U.S. Treasury Bills (T-bills) with an annual percentage yield (APY) of 5.0%.

Additionally, OpenEden is launching tokenized T-bills on the XRP Ledger, backed by short-term U.S. T-bills and reverse repurchase agreements.

Ripple is also establishing a $10 million fund to invest in these tokenized T-bills, further emphasizing the growing demand for such assets, which are currently valued at approximately $1.92 billion.

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