Ripple, JPMorgan & Mastercard Pull Off First Tokenized Treasury Deal
BeInCrypto
Ripple, JPMorgan, Mastercard, and Ondo Finance successfully completed a pilot project settling tokenized US Treasury redemptions across borders in near real time.Summary
Ripple, JPMorgan, Mastercard, and Ondo Finance have successfully completed a landmark pilot program, marking the first time tokenized US Treasury assets have been settled across borders and banking institutions in near real time. The process involved redeeming Ondo Short-Term US Government Treasuries (OUSG) on the XRP Ledger, with Mastercard's Multi-Token Network and JPMorgan's Kinexys platform facilitating the final fiat settlement into a Ripple bank account in Singapore. This hybrid approach leverages blockchain efficiency while maintaining institutional compliance within the traditional banking system, representing a significant advancement toward 24/7 global financial market operations.
(Source：BeInCrypto)