Ripple in an official announcement on June 11 revealed that Ondo Finance’s Ondo (OUSG) short-term U.S. government treasuries (OUSG) is now live on the XRP Ledger (XRPL). It said the “future takes a concrete step forward today,” with tokenization no longer a concept confined to whitepapers and pilot programs.
RippleX stated, “This is a new era for onchain finance.” The move has enabled qualified purchasers and institutions to seamlessly mint and redeem OUSG on XRPL, using RLUSD stablecoin as a settlement asset. Ripple and Ondo commit liquidity to ensure its start with a strong momentum, with RLUSD serving as the bridge asset to unlock cross-market utility. OUSG launch on XRPL marks a big milestone for both companies.
Notably, XRPL is rapidly becoming a destination for institutional-grade tokenized finance with trusted assets, compliant rails, and real-time utility. On Tuesday, Guggenheim Treasury Services, part of the major U.S. investment company Guggenheim Capital, launched Digital Commercial Paper (DCP) on Ripple’s XRP Ledger.
Ondo Finance is leading the real-world asset tokenization, with over $1.3 billion in TVL, now expanding support to the XRPL. OUSG is the first tokenized security to achieve material adoption, having a TVL of over $670 million. Asset tokenization to continue making milestones by turning static assets into dynamic and programmable tools, paving the way for a $19 trillion market by 2033, as per a recent report by Ripple and Boston Consulting Group.
“Ondo’s OUSG going live on the XRPL demonstrates that tokenized finance is no longer theoretical, it’s maturing in real markets,” said SVP of RippleX Markus Infanger. Moreover, XRPL is rapidly becoming a destination for institutional-grade tokenized finance. XRP price jumped slightly after the announcement, with the price currently trading at $2.29. The 24-hour low and high are $2.27 and $2.32, respectively.
NFT platform Candy Digital has announced plans to migrate its digital collectibles ecosystem to the Solana blockchain, signaling…
The U.S. military has confirmed it is actively running a Bitcoin node as part of national security research, while…
The Web3 gaming sector is facing a harsh reality check as new data reveals that more…
Justin Sun, founder of TRON, has filed a federal lawsuit against World Liberty Financial, a crypto venture…
Tether has frozen approximately $344 million in USDT on the Tron blockchain after the wallets were flagged by U.S. authorities, marking…
Prediction market platform Kalshi has fined and suspended three U.S. congressional candidates after determining they engaged in “political…