JPMorgan, Ripple, Mastercard, and Ondo Finance completed a pilot cross-border transfer tied to Ondo’s OUSG tokenized U.S. Treasury fund using XRP Ledger. Ondo redeemed OUSG to Ripple on XRPL, Mastercard MTN transmitted transaction instructions through JPMorgan Kinexys, and JPMorgan delivered U.S. dollars to Ripple’s bank account in Singapore. Earlier details stated the pilot took place on May 6, integrated Kinexys and XRP Ledger in a single workflow, and completed the cross-border interbank redemption in under five seconds outside standard banking hours, underscoring how tokenized real-world assets can connect blockchain-based products with traditional payment infrastructure.