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>>What are Ripple, Mastercard, Ondo, and JPMorgan planning to do with the XRP Ledger?

What are Ripple, Mastercard, Ondo, and JPMorgan planning to do with the XRP Ledger?

crypthub

about 13 hours ago

Cross-Border Settlement Pilot

Ripple, Mastercard, Ondo Finance, and JPMorgan executed a pilot transaction using the XRP Ledger. This test successfully redeemed a tokenized U.S. Treasury fund across international borders. The process demonstrated a near real-time settlement model outside standard banking cut-off times. The pilot combined a public blockchain, tokenized fund redemption, and global banking infrastructure in a single flow.

Integrated Payment Flow Mechanics

The transaction involved Ondo’s Short-Term U.S. Government Treasuries fund (OUSG). Ripple used the XRP Ledger for the on-chain redemption portion of the tokenized asset. Subsequently, Mastercard’s Multi-Token Network routed the payment instructions. JPMorgan's Kinexys then supported the debit and the actual dollar transfer to Ripple’s bank account in Singapore.

Industry Significance and Impact

The pilot confirmed that institutions can link blockchain and global banking systems efficiently. This approach can reduce the necessity of multiple manual wire transfers and limited banking hours. The system connects tokenized assets directly to the wider financial system through coordinated settlement. Experts view this structure as key for future institutional-scale tokenized markets.