Guggenheim Treasury Securities (GTS), a subsidiary of commercial consulting agency Guggenheim Capital, has issued $20 million rate of Digital Commercial Paper (DCP) on Ethereum.

The DCP obtained a P-1 credit ranking standing from Morose’s.

In step with a Sept. 26 commentary, Guggenheim will pronounce the paper by a blockchain platform developed by Zeconomy known as AmpFi.Digital, which offers tokenization services and products for qualified merchants.

Zeconomy CEO Giacinto Cosenza stated:

“With tens of billions of bucks locked in DeFi and company treasuries, we are thrilled to partner with GTS to address a determined need for added relied on and stable blockchain alternate choices.”

The switch comes as the tokenized US treasuries market surpassed $2 billion in market cap, with the participation of mature finance heavyweights equivalent to asset managers BlackRock and Franklin Templeton.

BlackRock’s tokenized fund BUIDL has a market cap of over $513 million, whereas Franklin Templeton’s FOBXX trails close with $435 million.

Additionally, AmpFi.Digital stated within the announcement that it objectives to address key decentralized finance (DeFi) challenges equivalent to a unhealthy credit ranking derive quality, high costs, and compliance components.

Cosenza added that the approval of crypto change-traded funds (ETF) within the US and the substantial state within the tokenization market this year highlighted institutional question for crypto.

Bullish traits for Ethereum

Notably, nearly $1.6 billion of all tokenized U.S. treasuries are issued the train of Ethereum as an infrastructure.

As well to to BlackRock’s BUIDL, Ondo’s USDY and OUSG and Hashnote’s USYC tremendously procure bigger the blockchain’s participation within the tokenized executive securities ecosystem.

Moreover, CoinDesk reported on Sept. 25 that Visa plans to invent a platform that can serve institutional corporations pronounce fiat-backed tokens. Ethereum’s infrastructure will furthermore energy the Visa Tokenized Asset Platform (VTAP).

Solana is a rising contender

Solana holds moral 5.5% of the tokenized US executive securities market as of Sept. 26, with $122.7 million in tokens issued on the network.

On the opposite hand, Franklin Templeton and Citigroup fair no longer too long ago announced they are eyeing Solana for his or her next monetary merchandise exploring blockchain skills.

For the length of Solana’s ecosystem-focused match Breakpoint, Franklin Templeton revealed its plans to originate a mutual fund natively on Solana. Within the period in-between, Citi is desirous about tapping the network for cash programmability thru excellent contracts aimed at inferior-border payments.

Talked about listed here

Ethereum Solana Franklin Templeton BlackRock Visa Citigroup

Author

Gino Matos

Reporter at CryptoSlate

Gino Matos is a laws college graduate and a seasoned journalist with six years of journey within the crypto substitute. His journey primarily specializes within the Brazilian blockchain ecosystem and traits in decentralized finance (DeFi).

@pelimatos LinkedIn Electronic mail Gino

Editor Editor

Assad Jafri

Editor & Reporter at CryptoSlate

AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his talents worldwide for over a decade. That specialise in monetary journalism, he now specializes in crypto reporting.

@Saajthebard LinkedIn Electronic mail Editor

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