Ondo Finance is expanding its $185 million U.S. Treasury token, OUSG, to the XRP Ledger network. This token, backed by BlackRock’s BUIDL fund, allows qualified investors to mint and redeem tokens instantly using Ripple’s RLUSD stablecoin. The deployment will be live within six months. Ripple and Ondo Finance have made seed investments for initial liquidity, though the amounts remain undisclosed. Tokenized real-world assets (RWA) are on the rise, with U.S. Treasury notes leading the charge, quadrupling in value over the past year to $3.5 billion. The 24/7 intraday settlement of tokenized assets like OUSG offers faster settlements and increased efficiency compared to traditional banking. OUSG, previously available on Ethereum, Polygon, and Solana, now joins OpenEden’s TBILL as the second tokenized treasury product on XRP Ledger.
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