According to Ondo Finance’s official blog, the company has completed its first cross-border transaction for a near-real-time tokenized U.S. Treasury bond fund with Kinexys via J.P. Morgan, Mastercard, and Ripple. During the pilot, Ripple exchanged its holdings of Ondo short-term U.S. government bonds (OUSG) on the XRP Ledger. Ondo processed the redemption, and sent fiat payment instructions via Mastercard Multi-Token Network, which were cleared and executed through blockchain infrastructure of Kinexys by J.P. Morgan, delivering funds in USD to Ripple’s bank account in Singapore.

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