Ondo, JPMorgan, Mastercard, and Ripple complete tokenized treasury pilot

Techub News, according to CryptoBriefing, Ondo Finance, JPMorgan Kinexys, Mastercard, and Ripple have completed a tokenized U.S. Treasury pilot. The transaction involved the redemption of OUSG tokens via the XRP Ledger and utilized Mastercard's Multi-Token Network and the Kinexys settlement rail to conduct cross-border payments.

The pilot achieved near real-time settlement of tokenized U.S. Treasuries across interbank and cross-border scenarios, demonstrating how tokenized assets can interact with public blockchains and traditional banking systems. Ripple redeemed a portion of its OUSG holdings on the XRP Ledger, with funds transferred to its Singapore account via JPMorgan's correspondent banking network.