JPMorgan Chase, Ripple, Mastercard, and Ondo Finance have completed a pilot transaction with tokenized U.S. Treasuries on the XRP Ledger, marking a major milestone in blockchain finance.
This was the first real-time, cross-border settlement using tokenized treasuries that linked public blockchain systems with traditional bank payment networks. Experts see this as another big step toward bringing blockchain into mainstream finance.
According to Ondo Finance, the process involved redeeming its tokenized treasury product, OUSG, on the XRP Ledger. Mastercard’s Multi-Token Network sent instructions to JPMorgan’s Kinexys platform, which then delivered U.S. dollars to Ripple’s bank account in Singapore. Traditionally, cross-border settlements involving banks and treasury assets can take hours or even days, particularly outside normal banking hours. This pilot demonstrated how blockchain systems could dramatically reduce settlement time while lowering operational costs.
Source: x.com
This news comes as tokenization is becoming more popular in global finance. Big institutions now see blockchain as a way to move traditional financial products like bonds, treasuries, and stocks more efficiently.
JPMorgan is already a major player in this area with its Kinexys platform and tokenized deposit products. Ripple is also working to make the XRP Ledger a key platform for asset tokenization and institutional payments.
Blockchain analytics show that tokenized real-world assets on the XRP Ledger have grown rapidly in recent months, with treasury products among the fastest-growing areas.
Supporters of blockchain finance say that developments like this show public blockchain networks and traditional banks can work together, not just compete.
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