The companies completed a cross-border redemption of tokenized U.S. Treasuries on the XRP Ledger (blockchain network tied to XRP), marking another real-world asset settlement use case.
JPMorgan, Ripple, Mastercard and Ondo have completed a cross-border redemption of tokenized U.S. Treasuries on the XRP Ledger (blockchain network tied to XRP), according to the source. The transaction links major financial and crypto firms in a real-world asset workflow involving tokenized Treasuries (digital blockchain-based representations of government bonds). Cross-border redemption refers to settling or converting an asset across jurisdictions, a process blockchain networks are often used to streamline by reducing settlement friction and improving transfer efficiency. The announcement highlights continued institutional experimentation with tokenization (issuing traditional assets on blockchain rails) and blockchain-based settlement infrastructure.