According to Ondo Finance’s official blog, the company completed its first near-real-time tokenized U.S. Treasury fund cross-border exchange with Kinexys by J.P. Morgan, Mastercard, and Ripple. In the pilot, Ripple exchanged its holdings of Ondo Short-Term U.S. Government Bond (OUSG) on XRP Ledger. Ondo processed the redemption and sent fiat payment instructions via Mastercard Multi-Token Network, with Kinexys by J.P. Morgan’s blockchain infrastructure executing settlement and delivering U.S. dollar funds to Ripple’s bank account in Singapore.
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