Ondo, Ripple, Mastercard and Kinexys Complete Tokenized U.S. Treasury Redemption

A pilot using XRP Ledger, Mastercard MTN, and JPMorgan Kinexys redeemed Ondo’s OUSG and settled U.S. dollars to Ripple’s Singapore bank account in under five seconds, including outside standard banking hours.

XRP

ONDO

OUSG

20h ago

Fact Check

All three verified sources — including the official joint press release from all four participating organizations — consistently and explicitly confirm every key element of the claim: (1) the pilot took place on May 6, (2) it involved Ondo Finance, Kinexys by J.P. Morgan, Mastercard, and Ripple, (3) the XRP Ledger and Kinexys were combined in a single workflow, (4) the redemption of tokenized U.S. Treasuries (OUSG) was completed cross-border and cross-bank, and (5) the asset leg was processed in under five seconds outside standard banking hours. There is no conflicting evidence across any of the sources.

Summary

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.

Terms & Concepts

XRP Ledger: A blockchain network used for issuing and transferring digital assets, including tokenized financial products.
OUSG: Ondo’s tokenized U.S. Treasury product, designed to give holders blockchain-based exposure to short-term U.S. government securities.
Tokenization: The process of representing a real-world asset as a digital token on blockchain infrastructure.