Consortium redeems tokenized U.S. Treasury fund on XRP Ledger, boosting settlement efficiency.

A consortium including J.P. Morgan, Mastercard, Ripple, and Ondo Finance successfully completed a pilot program redeeming a tokenized U.S. Treasury fund on the XRP Ledger. This transaction integrated public blockchain with traditional banking, aiming to improve settlement efficiency in the $30 trillion U.S. Treasury market. The process involved Ondo Finance redeeming Ripple’s tokenized Treasury fund, Mastercard routing instructions to J.P. Morgan’s blockchain unit, and J.P. Morgan transferring U.S. dollars to Ripple’s bank account. This pilot could pave the way for a 24/7 trading and settlement ecosystem and reflects growing institutional interest in tokenizing real-world assets.