Thrilled to work with the teams at JP Morgan, Ripple, and Mastercard on this.
This is how crypto and tradfi rails come together: the first time tokenized tbills are settled cross border and banks, near real time.
Go in real time from tokenized tbills in bank in country 1 --> cash in bank in country 2.
Today, Mastercard, @OndoFinance, Kinexys by @JPMorgan, and @Ripple successfully completed a landmark transaction connecting a public blockchain with interbank settlement rails.
Together, we’re laying the groundwork for 24/7 global markets that never close.
Ondo, Kinexys by @jpmorgan, @Mastercard, & @Ripple successfully completed a landmark pilot transaction connecting the XRP ledger with interbank settlement rails.
This milestone marks the first time tokenized U.S. Treasuries have settled across borders and banks in near real time and outside traditional banking windows.
1. Ondo processed Ripple’s OUSG redemption on XRP Ledger
2. Mastercard's Multi-Token Network routed instructions to Kinexys by J.P. Morgan
3. J.P. Morgan delivered USD to Ripple's Singapore bank account
Tokenized assets are no longer separate from the global financial system. For the first time, a public blockchain and global banking infrastructure settled a cross-border transaction of a tokenized fund together in real time.
Together, we’re laying the groundwork for 24/7 global markets that never close.
NEW: @Ripple is piloting its $RLUSD stablecoin in Singapore's MAS BLOOM sandbox alongside supply chain firm Unloq, testing automated cross-border trade payments triggered by shipment verification on the XRP Ledger.