Ripple, JPMorgan & Mastercard Pull Off First Tokenized Treasury Deal

JPMorgan, Mastercard, Ripple, and Ondo Finance completed a pilot that settled a tokenized US Treasury redemption across banks and borders in near real time, the firms said. The transaction routed Ripple’s redemption of Ondo Short-Term US Government Treasuries (OUSG) tokens on the XRP Ledger through Mastercard’s Multi-Token Network and JPMorgan’s Kinexys platform, which delivered dollars