Digital Commercial Paper (DCP), a short-term debt instrument backed by U.S. Treasuries and rated Prime-1 by Moody’s, is now available on the XRP Ledger.
The move expands the reach of Guggenheim Treasury Services’ flagship fixed income product from Ethereum to Ripple’s high-performance blockchain, marking a significant step in the tokenization of real-world assets (RWAs) for institutional finance.
Developed by Zeconomy and administered by Guggenheim Treasury Services, DCP is issued and managed via a special-purpose vehicle (SPV) named Great Bridge Capital Company. The product is designed exclusively for qualified investors, offering a yield-bearing, on-chain treasury instrument that integrates seamlessly into digital asset strategies and payment flows.
Leveraging XRPL’s efficiency for institutional adoption
By moving to the XRP Ledger, DCP benefits from fast settlement, low-cost transactions, and 24/7 market access. These features modernize the lifecycle of commercial paper, from issuance and trading to liquidity integration. XRP’s capabilities aim to support broader adoption of tokenized finance while providing a scalable infrastructure for regulated financial products.
Markus Infanger, SVP at RippleX, commented:
“The inception of DCP is a prime example of tokenization moving from experimentation to production. Institutions are no longer asking if blockchain technology can support regulated financial products—they’re asking how they can deploy them at scale.”
Since its launch in September 2024, DCP has processed over $280 million in issuance. On Ethereum, approximately $20.5 million in DCP has been issued, according to RWA.xyz, held by two institutional investors. Guggenheim’s expansion to XRPL represents a strategic shift to accommodate growing demand for high-efficiency, blockchain-based debt markets.
Apex 2025: Digital Commercial Paper DCP is now live on the XRP Ledger. Administered by Guggenheim Treasury Services, one of the largest independent commercial paper platform managers in the world and powered by Zeconomy: https://t.co/Ic4YdUnNry
With $280M+ in issuance, DCP is…
— RippleX (@RippleXDev) June 10, 2025
Ripple has committed a $10 million investment to support the DCP program, reinforcing its ongoing strategy to bring tokenized U.S. Treasuries and other institutional-grade RWAs onto its blockchain ecosystem.
Broader institutional interest in XRPL
Guggenheim’s latest initiative follows a wave of institutional momentum toward XRPL. Nasdaq-listed Webus International (WETO), a China-based AI mobility firm, recently signed a $300 million deal with Samara Alpha Management LLC to manage an XRP-centric treasury strategy. Although no XRP has yet been transferred, the agreement sets the foundation for future capital deployment.
Nasdaq-listed company Webus $WETO plans to invest up to $300 million to establish an $XRP treasury and integrate the #XRPLedger.https://t.co/DHmq9LMAKJ
— CoinCodex (@CoinCodex) June 5, 2025
Webus also plans to integrate Ripple’s payment network into its chauffeur services to enable global cross-border settlements. Additionally, fellow public company VivoPower International is raising $121 million to build an XRP reserve, with $100 million sourced from Saudi royalty. VivoPower intends to develop XRPL-based DeFi products such as cross-border payment tools.
Further regulatory tailwinds come from Ripple’s RLUSD stablecoin, which recently received approval from the Dubai Financial Services Authority for use in the Dubai International Financial Centre (DIFC), boosting XRPL’s institutional credentials.
Tokenized finance gains traction
The XRPL-based launch of DCP comes amid surging institutional interest in tokenized RWAs. According to Binance and RWA.xyz, the total market value of tokenized assets surged by over 260% in the first half of 2025, rising from $8.3 billion to over $23 billion. Treasury debt, private credit, and commodities dominate the sector.
With Wall Street giants like BlackRock and Franklin Templeton already active in the space, Guggenheim’s DCP offering adds further depth and diversity to the tokenized fixed income landscape. As Zeconomy CEO Giacinto Cosenza noted:
“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.”
Source:: Institutional XRP Adoption Accelerates as Guggenheim's DCP Is Tokenized on XRP Ledger