Guggenheim issues $20 million worth of tokenized commercial paper on Ethereum

Guggenheim Treasury Securities (GTS), a subsidiary of fiscal consulting steadfast Guggenheim Capital, has issued $20 cardinal worthy of Digital Commercial Paper (DCP) connected Ethereum.

The DCP received a P-1 recognition standing from Moody’s.

According to a Sept. 26 statement, Guggenheim volition contented the insubstantial via a blockchain level developed by Zeconomy called AmpFi.Digital, which offers tokenization services for qualified investors.

Zeconomy CEO Giacinto Cosenza stated:

“With tens of billions of dollars locked successful DeFi and firm treasuries, we are thrilled to spouse with GTS to code a wide request for much trusted and unafraid blockchain solutions.”

The determination comes arsenic the tokenized US treasuries marketplace surpassed $2 cardinal successful marketplace cap, with the information of accepted concern heavyweights specified arsenic plus managers BlackRock and Franklin Templeton.

BlackRock’s tokenized money BUIDL has a marketplace headdress of implicit $513 million, portion Franklin Templeton’s FOBXX trails adjacent with $435 million.

Additionally, AmpFi.Digital stated successful the announcement that it aims to code cardinal decentralized concern (DeFi) challenges specified arsenic mediocre recognition quality, precocious fees, and compliance issues.

Cosenza added that the support of crypto exchange-traded funds (ETF) successful the US and the important maturation successful the tokenization marketplace this twelvemonth highlighted organization request for crypto.

Bullish developments for Ethereum

Notably, astir $1.6 cardinal of each tokenized U.S. treasuries are issued utilizing Ethereum arsenic an infrastructure.

In summation to BlackRock’s BUIDL, Ondo’s USDY and OUSG and Hashnote’s USYC importantly summation the blockchain’s information successful the tokenized authorities securities ecosystem.

Moreover, CoinDesk reported connected Sept. 25 that Visa plans to make a level that volition assistance organization firms contented fiat-backed tokens. Ethereum’s infrastructure volition besides powerfulness the Visa Tokenized Asset Platform (VTAP).

Solana is simply a rising contender

Solana holds conscionable 5.5% of the tokenized US authorities securities marketplace arsenic of Sept. 26, with $122.7 cardinal successful tokens issued connected the network.

However, Franklin Templeton and Citigroup recently announced they are eyeing Solana for their adjacent fiscal products exploring blockchain technology.

During Solana’s ecosystem-focused lawsuit Breakpoint, Franklin Templeton revealed its plans to motorboat a communal money natively connected Solana. Meanwhile, Citi is considering tapping the web for wealth programmability done astute contracts aimed astatine cross-border payments.

The station Guggenheim issues $20 cardinal worthy of tokenized commercialized insubstantial connected Ethereum appeared archetypal connected CryptoSlate.