Guggenheim Treasury Services Pioneers Digital Commercial Paper on XRP Ledger

Guggenheim Treasury Services has achieved a groundbreaking milestone by issuing the first native Digital Commercial Paper (DCP) on the XRP Ledger.

Powered by the Zeconomy platform, this initiative has already facilitated over $280 million in transaction volume, showcasing robust market adoption. Backed by U.S. Treasuries, the DCP leverages the XRP Ledger’s high-speed and low-cost transaction capabilities, positioning it as a transformative tool for institutional finance.

The product is offered through Great Bridge Capital Co., a special-purpose vehicle created by Guggenheim Treasury Services to provide bankruptcy-remote services. Moody’s has rated the DCP Prime-1, its highest grade for money market instruments, further underscoring its credibility in institutional finance.

Institutional Confidence and Market Adoption

This issuance reflects growing confidence in blockchain technology for mainstream financial applications. The XRP Ledger’s ability to facilitate secure, transparent, and efficient transactions, particularly for cross-border payments, addresses longstanding challenges in traditional systems, such as high fees and delays.

Guggenheim’s move aligns with the broader trend of financial institutions embracing distributed ledger technology to modernize legacy infrastructure.

“Zeconomy’s platform delivers institutional-grade modules and a powerful toolkit that brings corporations and traditional finance participants together to solve real-world problems onchain,” said Giacinto Cosenza, CEO at Zeconomy. “The expansion of DCP to the XRPL is a key marker for the future of tokenized finance, combining institutional strength with the enterprise focus of Ripple. This exact use case is how regulated, asset-backed instruments like DCP can thrive on public blockchains at scale.”

Strategic Implications: Innovation in Treasury Management

Guggenheim’s decision to issue DCP on the XRP Ledger underscores its commitment to innovation in treasury management and the tokenization of real-world assets (RWA). The Zeconomy platform enables seamless tokenization of commercial paper, providing liquidity and accessibility to institutional investors. The initiative enhances cross-border payment capabilities, with the XRP Ledger’s near-instant settlement times reducing friction in international transactions. Roughly $20.5 million in DCP has been issued on Ethereum so far, currently held by two investors with one monthly active address.

Guggenheim’s move onto the XRP Ledger reflects growing institutional interest in tokenized RWAs. A study by Binance found that tokenized RWAs have increased by over 260% in the first half of 2025, surging from approximately $8.3 billion to more than $23 billion. Tokenized private credit, U.S. Treasury debt, and commodities currently dominate the RWA landscape, collectively accounting for approximately $22.8 billion in market value.

Furthermore, this move is part of Guggenheim’s broader push into real-world asset tokenization, signaling a shift toward integrating blockchain into high-value financial products.

“We’re at a tipping point where tokenization is evolving from experimentation to production in global financial markets,” said Markus Infanger, Senior Vice President of RippleX. “Institutions are no longer asking if blockchain technology can support regulated financial products, they’re asking how they can deploy them at scale. The inception of DCP is a prime example of this shift and it expands the offering of institutional financial assets coming to the XRPL. The XRPL is the backbone, built to support regulated financial assets that require the efficiency, scalability, and compliance features global markets need.”

Future Prospects: Leadership in Digital Finance

Guggenheim’s issuance of U.S. Treasuries-backed DCP positions it as a leader in the evolving landscape of digital finance. By leveraging the XRP Ledger, the firm not only enhances the credibility of tokenized assets but also sets a precedent for other financial institutions. The success of this $280 million issuance could inspire other firms to explore tokenization, potentially expanding the XRP Ledger’s role in global finance. As blockchain technology matures, Guggenheim’s pioneering effort may catalyze a broader shift toward more efficient, transparent, and accessible financial systems, particularly in the realm of real-world asset tokenization. Tokenized RWAs are experiencing explosive growth, with private credit, U.S. Treasury debt, and commodities collectively dominating the market.