First Redemption of Cross-Border, Cross-Bank Tokenized Treasuries Completed

Ondo Finance has successfully executed the first near real-time, cross-border, and cross-bank redemption of a tokenized U.S. Treasury fund. The pilot involved Ripple redeeming its OUSG holdings on the XRP Ledger, with fiat settlement facilitated by the Mastercard Multi-Token Network and Kinexys by J.P. Morgan. This transaction bypassed traditional banking cut-off windows, demonstrating a unified flow between public blockchain infrastructure and global correspondent banking networks. By integrating these disparate systems, the collaboration proves that tokenized assets can move seamlessly across borders without relying on manual, siloed wire processes. This development is significant for the RWA market as it addresses the critical bottleneck of settlement infrastructure, which has historically limited the efficiency of onchain assets. The framework establishes a scalable model for 24/7 global markets, allowing institutional-grade tokenized products to interact directly with existing bank accounts. Ultimately, this milestone signals a shift toward continuous, automated financial operations that bridge the gap between decentralized ledgers and traditional finance.