Ondo, JPMorgan settle first cross-border Treasury redemption on XRP Ledger

Ondo Finance said it completed the first near-real-time cross-border redemption of its OUSG tokenized U.S. Treasury fund with JPMorgan’s Kinexys, Mastercard, and Ripple, and the transaction settled in under five seconds on the XRP Ledger. Mastercard’s Multi-Token Network routed the instructions to Kinexys, and JPMorgan sent U.S. dollars to Ripple’s Singapore bank account. The flow ran outside traditional banking windows, where similar cross-border settlement usually takes one to three business days through correspondent banks.

ONDO8.38%
XRP-2.96%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin