Near real-time cross-border settlement done using tokenized U.S. Treasuries in new pilot

Ripple, J.P. Morgan, Mastercard, and Ondo Finance completed a pilot enabling near real-time cross-border settlement using tokenized U.S. Treasuries. The pilot combined blockchain asset transfers on the XRP Ledger, which processed transactions in under five seconds, with fiat settlement through traditional banking systems like Mastercard’s Multi-Token Network and J.P. Morgan’s Kinexys platform. This demonstrates a new model where blockchain activity can directly trigger fiat settlements without delays, enabling faster, continuous cross-border transactions even outside normal banking hours. The XRP Ledger’s growing use in institutional tokenized assets highlights its expanding role in bridging blockchain and traditional finance.