Ripple, JPMorgan, and others complete pilot for tokenized US Treasury cross-border settlement

Ripple, JPMorgan, Mastercard, and Ondo Finance jointly completed a cross-border settlement pilot for tokenized U.S. Treasury funds.

The transaction was executed on the XRP Ledger: first, Ondo completed the redemption of its tokenized U.S. Treasury product OUSG on-chain, then the instruction was transmitted through the Mastercard network and JPMorgan's blockchain payment system, and finally, JPMorgan completed the U.S. dollar settlement to Ripple's Singapore account. The project team stated that this pilot achieved real-time collaboration between blockchain and the traditional banking system, marking the beginning of tokenized assets integrating into the global financial infrastructure.