Investment giant Guggenheim taps Ripple to expand digital debt offering
Guggenheim’s Treasury-backed fixed-income product will be available on the XRP Ledger.
US investment manager Guggenheim is expanding its digital commercial paper offering through a partnership with Ripple, underscoring the growing convergence between traditional finance and crypto-native enterprises.
Under the partnership, Guggenheim’s subsidiary, Guggenheim Treasury Services, will make its US Treasury-backed fixed-income asset available on the XRP Ledger, according to Bloomberg. Ripple will invest $10 million in the asset as part of the collaboration.
The commercial paper product is fully backed by US Treasurys with customized maturity options of up to 397 days.