XRP Ledger Chosen by Guggenheim Treasury Services for Digital Commercial Paper Issuance

Guggenheim Debuts Tokenized Commercial Paper on XRP Ledger, Unlocking $280M+ in Issuance

Guggenheim Treasury Services has brought Digital Commercial Paper (DCP) to the XRP Ledger (XRPL), marking the blockchain’s first native issuance of a tokenized short-term debt instrument.

Structured and administered by Zeconomy and backed by U.S. Treasuries, DCP is a fully tokenized, fixed-income product with a Prime-1 rating from Moody’s—the highest short-term credit rating available. Since its initial launch in September 2024, over $280 million in issuance has already been processed.

As a product of Guggenheim Treasury Services, a subsidiary of Guggenheim Capital, DCP is issued through Great Bridge Capital Company, a bankruptcy-remote SPV designed to offer enhanced investor protection.

The move to XRPL enables DCP to benefit from the blockchain’s hallmark features: fast settlement speeds, low transaction costs, and 24/7 global accessibility, making it a powerful solution for institutions seeking efficient treasury management and liquidity strategies.

“DCP on XRPL is a tangible example of how tokenization is transitioning from pilot projects to production-grade infrastructure,” said Markus Infanger, SVP of RippleX. “Institutions want scalable blockchain solutions — and DCP delivers just that.”

The offering is available only to Qualified Institutional Buyers (QIBs) and Qualified Purchasers (QPs), and is tailored for use cases including collateralization, on-chain yield strategies, and cross-border settlement.

Giacinto Cosenza, CEO of Zeconomy, emphasized the platform’s institutional orientation: “Zeconomy’s toolkit empowers corporations and traditional financial players to solve real-world challenges on-chain. Expanding DCP to XRPL highlights what’s possible when institutional rigor meets blockchain efficiency.”

Ripple, which has made strategic investments in other tokenized Treasury products such as Ondo’s OUSG and Archax and abrdn’s MMF, is also backing DCP as part of its broader push to onboard real-world institutional assets onto XRPL.

This initiative reflects the growing maturity of tokenized finance, as digital infrastructure converges with the demands of traditional capital markets.