JPMorgan, Mastercard Make US Treasury Transfer on XRP Ledger

JPMorgan and Mastercard have executed the first cross-border, cross-bank redemption of a tokenized US Treasury fund, utilizing Ripple’s XRP Ledger and JPMorgan’s blockchain platform, Kinexys. The pilot involved the redemption of Ondo Finance’s OUSG fund, with settlement instructions routed via Mastercard’s Multi-Token Network to provide real-time, global settlement. This collaboration marks a significant step in integrating public blockchain technology with traditional global banking infrastructure, aiming to enhance speed and reduce costs in payment systems. While the real-world asset (RWA) tokenization market shows immense growth potential, industry experts and the IMF emphasize that widespread adoption requires greater regulatory clarity and legal certainty regarding ownership and settlement finality.

(Source：Cointelegraph)