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JPMorgan and Ripple execute first instant treasury settlement on XRP Ledger
Ondo Finance, in collaboration with JPMorgan’s Kinexys, Mastercard, and Ripple, has successfully executed the first real-time cross-border redemption of tokenized U.S. Treasury securities on the XRP Ledger. The entire transaction was completed in under five seconds, outside traditional banking hours.
Highlights
- Ondo Finance, JPMorgan, Mastercard, and Ripple completed the first cross-border redemption of tokenized U.S. Treasuries on the XRP Ledger.
- The transaction was executed in under five seconds.
- Funds were transferred directly from JPMorgan to Ripple’s account in Singapore.
- The pilot highlights the potential for instant global settlements using public blockchains.
How the transaction worked
The process began with the redemption of Ondo’s tokenized U.S. Treasury fund (OUSG) on the XRP Ledger. Mastercard’s Multi-Token Network then transmitted the instructions to JPMorgan’s Kinexys platform, after which the bank transferred U.S. dollars to Ripple’s account in Singapore.
This marked the first seamless integration of a public blockchain with major banking infrastructure for settling tokenized assets across borders.
Significance of the deal
The operation demonstrates how combining public blockchain infrastructure with traditional interbank settlement systems can enable truly 24/7 global markets.
Such transactions allow institutional investors to handle cross-border settlements of tokenized assets as a single integrated process, far more efficiently than through legacy correspondent banking systems.
A step toward 24/7 global finance
This pilot project represents an important milestone in the tokenization of real-world assets. By linking public blockchain technology with regulated banking infrastructure, the participants have shown a practical path toward faster, more efficient cross-border capital movement.
As tokenized deposits and securities continue to grow, such initiatives could significantly reshape how institutions manage liquidity and international payments in the future.
In addition, we wrote that Morgan Stanley to launch crypto trading on E*Trade.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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