Ripple, JPMorgan Chase, and others complete pilot program for cross-border settlement of tokenized US Treasury bonds.

Ripple, JPMorgan, Mastercard, and Ondo Finance have jointly completed a pilot program for cross-border settlement of tokenized U.S. Treasury bonds. The transaction was executed using the XRP Ledger: Ondo first redeemed its tokenized U.S. Treasury bond product, OUSG, on-chain; then, the transaction was transmitted via the Mastercard network and JPMorgan's blockchain payment system; finally, JPMorgan settled the transaction in USD to Ripple's Singapore account. The project team stated that this pilot program achieved real-time collaboration between blockchain and the traditional banking system, marking the beginning of tokenized assets integrating into the global financial infrastructure.