According to Ripple and Ondo, JPMorgan, Ripple, Mastercard and Ondo completed a cross-border transaction of tokenized U.S. Treasurys on the XRP Ledger on Wednesday. The pilot involved Ondo processing its OUSG onchain fund redemption on XRP Ledger, followed by Mastercard routing instructions via JPMorgan’s Kinexys blockchain payments platform, which then delivered USD to Ripple’s Singapore bank account. OUSG, a tokenized U.S. Treasury product, currently holds $610 million in total value locked and offers a 3.48% APY.
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