Ripple and Partners Complete Cross-Border Settlement Pilot for Tokenized Treasury Bonds

Ripple, in collaboration with JPMorgan, Mastercard, and Ondo Finance, has successfully completed a pilot for cross-border settlement involving tokenized U.S. Treasury bond funds on the XRP Ledger. According to NS3.AI, the process began with Ondo Finance redeeming its on-chain Treasury product, OUSG. Mastercard's network and JPMorgan's blockchain payment system facilitated the transaction instructions, culminating in JPMorgan settling U.S. dollars into Ripple's account in Singapore.