Ripple, JPMorgan Chase, and others utilize the XRP Ledger to realize the international settlement of tokenized government bond funds

Mars Finance News, according to The Block, JPMorgan Chase, Ripple, Mastercard, and Ondo Finance collaborated to complete a pilot transaction for cross-border transfer tokenization of U.S. Treasury bonds. The pilot utilized the XRP Ledger and interbank payment networks to enable institutions to execute cross-border transactions within a single integrated process. Ripple stated that this is a successful demonstration of combining the XRP Ledger with global banking infrastructure. The transaction process is as follows: Ondo first redeemed Ripple for its OUSG on-chain fund on the XRP Ledger, where OUSG is a tokenized U.S. Treasury bond product. Subsequently, Mastercard’s multi-token network transmitted instructions through JPMorgan’s blockchain payment platform Kinexys, ultimately resulting in JPMorgan delivering U.S. dollars to Ripple’s bank account in Singapore.