Ripple, JPMorgan Settle First Cross-Border Tokenized Treasury Redemption on XRP Ledger
The pilot settled in under five seconds and showed how tokenized U.S. Treasuries can move between banks through public blockchain and bank rails.
- On Wednesday, Ondo Finance, Ripple, Mastercard, and JPMorgan completed the first near real-time, cross-border redemption of a tokenized U.S. Treasury fund, settling outside traditional banking windows using the XRP Ledger.
- The asset leg settled on the XRP Ledger in under five seconds, while Mastercard's Multi-Token Network routed instructions to Kinexys by J.P. Morgan for U.S. dollar delivery via correspondent banking.
- Traditional cross-border settlement typically takes one to three business days, but this framework enables 24/7 operations. "This milestone represents the first time tokenized U.S. Treasuries have settled across borders and banks in near real time," said Ondo President Ian De Bode.
- RippleX SVP Markus Infanger noted the transaction demonstrates institutions can execute cross-border moves as a single integrated flow. Separately, the Depository Trust & Clearing Corporation announced it would launch its own tokenization service later this year.
- Amid a broader crypto market pullback, XRP and ONDO tokens fell 2% over the past 24 hours. Kinexys has processed over $3 trillion in cumulative transactions, signaling strong institutional adoption momentum.
35 Articles
35 Articles
XRP News: JPMorgan and Mastercard Settle Tokenized US Treasuries on XRP Ledger in 5 Seconds
The post XRP News: JPMorgan and Mastercard Settle Tokenized US Treasuries on XRP Ledger in 5 Seconds appeared first on 24/7 Wall St.. Quick Read JPMorgan, Mastercard, Ripple, and Ondo Finance settled the first cross-border, cross-bank tokenized US Treasury redemption on May 6, with the XRPL asset leg clearing in under five seconds. The actual settlement ran on RLUSD, with a fraction of XRP used as network fee, because Ondo’s OUSG has been bui…
Ondo, JPMorgan, Mastercard and Ripple Complete First Cross-Border Tokenized Treasury Settlement on XRP Ledger
Ondo Finance completed what it described on Wednesday as the first near-real-time cross-border, cross-bank redemption of a tokenized U.S. Treasury fund. The pilot was conducted with JPMorgan’s Kinexys, Mastercard, and Ripple. The asset leg of the transaction processed in under five seconds on the XRP Ledger, while the fiat settlement flowed through traditional banking infrastructure. The full sequence happened outside regular business hours, the…
Ondo, Kinexys by J.P. Morgan, Mastercard, and Ripple Complete First Cross-Border, Cross-Bank Redemption of Tokenized U.S. Treasuries
/PRNewswire/ -- Ondo Finance today announced the successful completion of the first near real-time cross-border, cross-bank redemption of a tokenized U.S....
XRP Price Drops 5.3% Despite Ripple-Linked Mastercard, JPMorgan Pilot on XRPL
XRP (XRP) failed to sustain gains after Ondo Finance, Ripple, JPMorgan Chase and Mastercard completed a cross-border tokenized Treasury settlement pilot on the XRP Ledger this week. High-Profile Partnerships Fail to Lift XRP Rates In a press release published May 6, Ondo Finance said its tokenized US Treasury fund, OUSG, was redeemed across banking networks using infrastructure connected to Ripple, JPMorgan’s Kinexys platform, and Mastercard’s M…
Ripple Connect XRP Ledger With Interbank Settlement Rails in Pilot Tokenized Treasuries Redemption
Key Insights Ripple, along with Ondo Finance, Mastercard, and JPMorgan, completed a pilot transaction to redeem tokenized US Treasuries. The XRP Ledger was connected to interbank settlement rails to execute transactions. Tokenization momentum is growing among financial institutions as Ripple seeks to boost XRPL adoption. Ripple said it successfully connected the XRP Ledger (XRPL) with institutional settlement infrastructure during a pilot trans…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
