Ripple partners with JPMorgan and others to complete the first cross-border tokenized U.S. Treasury bond redemption

CryptoWorld News reports that Ripple, JPMorgan, Ondo Finance, and Mastercard have successfully completed the first cross-border redemption of tokenized U.S. Treasury bonds. This milestone pilot project marks the growing integration of blockchain networks with traditional banking systems in real-time settlement and integration. Ondo Finance completed the first near-real-time redemption of a cross-border tokenized U.S. Treasury bond fund, demonstrating the ability of blockchain assets to connect with traditional financial systems. The process was executed through Ripple’s XRP Ledger, linking on-chain public blockchain activity with regulated banking systems to ensure a coordinated settlement flow. JPMorgan’s Kinexys infrastructure handled the fiat portion, routing USD through its corresponding banking network to Ripple’s account in Singapore. The settlement was completed in almost real time, bypassing the usual bank cutoff times that typically delay cross-border transfers. Ondo Finance said this is the first time a tokenized U.S. Treasury bond has achieved near-real-time redemption between cross-border and banking institutions, showcasing the potential for blockchain financial assets to directly connect to global settlement systems.