2 days ago
Ripple has brought Ondo Finance’s tokenized US Treasuries product, Ondo Short-Term US Government Treasuries (OUSG), to the XRP Ledger.
The motorboat was announced connected June 11 and is seen arsenic a determination to grow the scope of institutional-grade tokenized assets crossed the fast-rising blockchain network.
According to the statement, the integration allows organization investors to mint and redeem OUSG connected XRPL utilizing RLUSD, Ripple’s caller stablecoin. This offers an alternate to accepted concern rails by enabling seamless entree to tokenized Treasury vulnerability astir the clock.
At the aforesaid time, Ripple and Ondo person besides committed liquidity to guarantee the merchandise launches with beardown trading enactment connected XRPL. RLUSD volition enactment arsenic a cardinal enabler for cross-network inferior and settlement.
OUSG provides permissioned on-chain entree to short-term US Treasury yields. According to RWA. XYZ data, the level presently ranks among the largest tokenized Treasury products worldwide, with a reported marketplace worth of astir $692 million.
Following the announcement, Ondo’s autochthonal ONDO token recorded a 4% terms gain, trading adjacent $0.90 astatine property time, according to information from CryptoSlate.
XRPL’s tokenization efforts
OUSG’s XRPL motorboat aligns with Ripple’s broader efforts to presumption the web arsenic a competitory level for tokenized real-world assets (RWAs).
Over the past year, Ripple has pursued aggregate partnerships, including 1 with Guggenheim Partners, to advance tokenization initiatives connected XRPL.
The firm’s strategy is driven by forecasts that the tokenized plus marketplace could scope $19 trillion by 2033. This is already evident successful the rapid traction of tokenized treasury and wealth marketplace products arsenic plus managers similar BlackRock research caller ways to modernize money organisation and colony processes.
As a result, the marketplace is gaining wide adoption crossed the board. Markus Infanger, Senior Vice President astatine RippleX, said:
“Institutions tin present entree high-quality assets similar US treasuries connected nationalist blockchains, with the compliance and ratio they need. This represents advancement successful bringing trusted fiscal assets into a 24/7 market—enabling greater liquidity, operational efficiency, and faster entree to capital.”
The station Ripple brings Ondo Finance’s tokenized US Treasuries to XRP Ledger successful propulsion for RWA expansion appeared archetypal connected CryptoSlate.
English (US) 