Ripple, JPMorgan Settle First Cross-Border Tokenized Treasury Redemption on XRP Ledger
The pilot settled in under five seconds and showed how tokenized U.S. Treasuries can move between banks through public blockchain and bank rails.
- On Wednesday, Ondo Finance, Ripple, Mastercard, and JPMorgan completed the first near real-time, cross-border redemption of a tokenized U.S. Treasury fund, settling outside traditional banking windows using the XRP Ledger.
- The asset leg settled on the XRP Ledger in under five seconds, while Mastercard's Multi-Token Network routed instructions to Kinexys by J.P. Morgan for U.S. dollar delivery via correspondent banking.
- Traditional cross-border settlement typically takes one to three business days, but this framework enables 24/7 operations. "This milestone represents the first time tokenized U.S. Treasuries have settled across borders and banks in near real time," said Ondo President Ian De Bode.
- RippleX SVP Markus Infanger noted the transaction demonstrates institutions can execute cross-border moves as a single integrated flow. Separately, the Depository Trust & Clearing Corporation announced it would launch its own tokenization service later this year.
- Amid a broader crypto market pullback, XRP and ONDO tokens fell 2% over the past 24 hours. Kinexys has processed over $3 trillion in cumulative transactions, signaling strong institutional adoption momentum.
22 Articles
22 Articles
Ondo, Kinexys by J.P. Morgan, Mastercard, and Ripple Complete First Cross-Border, Cross-Bank Redemption of Tokenized U.S. Treasuries
/PRNewswire/ -- Ondo Finance today announced the successful completion of the first near real-time cross-border, cross-bank redemption of a tokenized U.S....
A consortium formed by JP Morgan, Mastercard and Ripple has just marked a milestone: the first cross-border settlement of Tokenized Treasury bonds on the XRP Ledger network (XRPL). And it has done so, in addition, outside of conventional banking hours. The operation, detailed in Ripple’s official announcement, involves financial instruments that represent the US government’s debt, those same bonds that move billions every day but that, until now…
JPMorgan Mastercard Complete XRP Treasury Settlement On
JPMorgan and Mastercard have completed another important milestone in their ongoing partnership by executing a cross-border XRP Treasury Settlement using the XRP Ledger. The transaction was made using tokenized US Treasury assets, demonstrating the high speed of settlement between international financial institutions using blockchain technology. According to a recent post by Token Metrics, a consortium […]
Major Financial Giants Execute Historic Tokenized Treasury Transaction on XRP Ledger
Key Highlights A landmark transaction involving JPMorgan, Mastercard, Ripple, and Ondo Finance marked the inaugural international redemption of a tokenized US Treasury fund The settlement leveraged Ripple’s XRP Ledger infrastructure alongside conventional banking channels for instant transaction finalization Settlement instructions traveled through Mastercard’s Multi-Token Network to JPMorgan’s Kinexys system, culminating in USD delivery to Rip…
Ripple, J.P. Morgan and Mastercard Turn Tokenized U.S. Treasuries Into Real-Time Cash Ripple ETHNews
Ripple, Mastercard, J.P. Morgan and Ondo Finance have completed the first 24/7 tokenized treasury settlement. By combining the traditional financial infrastructure with the XRP Ledger, institutions execute cross-border transactions in seconds. Ripple has confirmed the execution of the first 24/7 tokenized treasury settlement. Ripple worked with Ondo Finance, Mastercard, and J.P. Morgan to complete this transaction. The XRP Ledger was used to set…
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