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Ondo, JPMorgan, and Mastercard Complete Treasury Tokenization Pilot on XRP Ledger

A new chapter for the interoperability of traditional finance (TradFi) and blockchain officially begins on Wednesday (5/6). Ondo Finance, Kinexys (J.P. Morgan), Mastercard, and Ripple successfully completed a pilot transaction tokenizing US Treasuries that connects the XRP Ledger (XRPL) with global interbank settlement infrastructure.
​This pilot marks the first time in the world that the disbursement of tokenized US Treasury funds is conducted cross-border in nearly real-time, even outside traditional banking hours. In the simulation, Ripple disbursed a portion of their OUSG (Ondo Short-Term US Government Treasuries) assets on the XRPL.
​The payment instructions were processed through Mastercard's Multi Token Network (MTN), which was then forwarded to J.P. Morgan's Kinexys platform. The USD funds were finally received in Ripple's bank account in Singapore via J.P. Morgan's correspondent banking network. This success proves that digital assets (RWA) can seamlessly interact with traditional banking systems within a unified flow, without relying on time-consuming manual transfers.
ONDO7.9%
XRP-1.66%
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MrFlower_XingChen
· 1h ago
impressive
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