Ripple, J.P. Morgan and Mastercard Turn Tokenized U.S. Treasuries Into Real-Time Cash

• Ripple, Mastercard, J.P. Morgan and Ondo Finance have completed the first 24/7 tokenized treasury settlement.
• By combining the traditional financial infrastructure with the XRP Ledger, institutions execute cross-border transactions in seconds.

Ripple has confirmed the execution of the first 24/7 tokenized treasury settlement. Ripple worked with Ondo Finance, Mastercard, and J.P. Morgan to complete this transaction. The XRP Ledger was used to settle Ondo’s OUSG tokenized short-term U.S. government treasuries to a fiat bank account.

After Ondo processed Ripple’s OUSG redemption on XRP Ledger, Mastercard routed instructions via its Multi-Token Network, and J.P. Morgan’s Kinexys delivered dollars to Ripple’s Singapore account. Notably, the transaction was executed nearly instantly and for a fraction of the cost.

Zack Chestnut, head of commercial at Kinexys by J.P. Morgan, in a statement, noted:

The partners noted that this was the groundwork for a 24/7 global financial market. Traditional financial players are increasingly adopting tokenization to enjoy the benefits of blockchain technology. XRP Ledger is one of the fastest, most scalable, and cheapest networks for institutions to deploy on.

Ripple Lays The Groundwork for XRP Ledger Dominance

Ripple is already working with J.P. Morgan, and the two are among 50 companies selected by the Depository Trust & Clearing Corporation (DTCC) to participate in its tokenization pilot, as ETHNews reported.

The two join several other Wall Street giants exploring the tokenization of real-world assets. As we reported, a settlement fund was launched on the Solana, Ethereum, and Stellar blockchains this week. Created by State Street Investment Management and Galaxy Asset Management, the SWEEP fund is a tokenized cash management fund.

These recent moves show that different companies are experimenting with different blockchains. Financial institutions will be looking for blockchains with a track record of performance and uptime, that are fast and reliable, and that offer low transaction fees. Ripple has been working with the banking sector since its establishment. This puts it, and the XRP Ledger, at the centre of the revolution.

As ETHNews reported, Ripple says its treasury platform links 13,000 banks and handles $12.5T in payment volume across its wider system.

Some analysts argue there is still a lack of clear regulation around tokenization, which is hindering the wider adoption of the technology. But with traditional financial institutions lobbying for it, and a crypto-friendly government in place, it feels like it’s just a matter of time.

Is XRP Getting Ready for a Breakout?

At the time of writing, the XRP token is trading at $1.40 after a 1% drop in the last 24 hours. Although the coin has recorded a 3% rally on the weekly chart, it has been trading in a tight range. But interest in the digital asset remains evident, with XRP spot ETFs seeing $13.03 million in net inflows on May 6.

Technical analyst Ali Charts has identified the $1.45 price point as key to a short-term rally.

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