Ripple, JPMorgan and Mastercard complete first cross-border tokenized Treasury redemption on XRP Ledger in under 5 seconds!

Ondo Finance, JPMorgan's Kinexys platform, Mastercard, and Ripple completed the first near-real-time cross-border redemption of a tokenized U.S. Treasury fund this week — settling in under five seconds on the XRP Ledger, outside traditional banking hours. The transaction involved OUSG, Ondo's tokenized Treasury fund for accredited investors, and routed instructions through Mastercard's Multi-Token Network before JPMorgan delivered U.S. dollars to Ripple's Singapore bank account.

The sequence replaces a process that typically takes one to three business days through correspondent banks. Ondo President Ian De Bode framed it directly: "By connecting public blockchain infrastructure with interbank settlement rails, we are laying the groundwork for 24/7 global markets that never close."

The pilot lands as tokenized deposit volumes across major banks move into the billions, and as DTCC…