San Francisco-based company Ripple has announced the introduction of US Treasury bills on the XRP Ledger via tokenization platform OpenEden.

Treasury bills are short-term debt obligations backed by the U.S. government. More than $1 billion worth of U.S. treasury notes have already been tokenized on public blockchains.

Ripple has also allocated $10 million to TBILL tokens issued by OpenEden.

Markus Infanger, senior vice president at RippleX, has stated that the bills represent another example of how it is possible to tokenize real-world assets. He added that institutions are actively exploring tokenization opportunities. Tokenized versions of Treasury bills help investors diversify their portfolios.

As reported by U.Today, Ripple outlined its vision for tokenization earlier this year.