Ondo, JPMorgan, Mastercard and Ripple complete tokenized Treasury pilot on XRP Ledger

Ondo Finance, Kinexys by J.P. Morgan, Mastercard, and Ripple have completed a pilot transaction that bridges tokenized US Treasuries with interbank settlement infrastructure. By using the XRP Ledger, the project successfully executed a near real-time, cross-border, and cross-bank redemption of tokenized assets, bypassing traditional banking delays and manual processes.

The transaction involved Ripple redeeming its Ondo Short Term US Government Treasuries (OUSG) holdings. The payout was routed through Mastercard’s Multi Token Network to Kinexys, which facilitated the final settlement into a bank account in Singapore via J.P. Morgan's correspondent network. This initiative demonstrates the potential for public blockchain rails to integrate seamlessly with traditional financial systems.

(Source：Crypto Briefing)