Ondo, Kinexys by J.P. Morgan, Mastercard, and Ripple Complete First Cross-Border Redemption of Tokenized U.S. Treasuries
Ondo Finance, in collaboration with Kinexys by J.P. Morgan, Mastercard, and Ripple, successfully executed the first cross-border, cross-bank redemption of tokenized U.S. Treasuries. The pilot demonstrated the integration of public blockchain infrastructure with traditional interbank settlement systems, enabling 24/7, near real-time transactions. The XRP Ledger processed the asset leg in under five seconds, while fiat settlement was handled via Mastercard's Multi-Token Network and J.P. Morgan's blockchain infrastructure.
Topics: blockchain cross-border_settlement financial_infrastructure interbank_rails tokenized_assets