"The redemption settled on the XRP Ledger in under five seconds, and JPMorgan delivered U.S. dollars to Ripple's bank in Singapore in the same flow-a trade that normally takes one to three business days. The pilot is a credibility win for the XRP Ledger, with JPMorgan's $3 trillion settlement platform connecting to XRPL."
"Until now, tokenized Treasury redemptions worked in two disconnected steps. The on-chain part was fast: you'd redeem the token in seconds. But getting the cash into your bank account was slow because the dollars still moved through wire transfers, manual checks, and banking hours. The redemption cleared on XRPL in under five seconds."
"For an institutional product like OUSG-which itself is backed by BlackRock's BUIDL fund-only a stable, audited dollar token will pass institutional compliance, and XRP's price volatility rules it out. So, Ripple redeemed OUSG on XRPL by exchanging the tokens for RLUSD. Mastercard's MTN routed the cash payout instruction, while JPMorgan did the bank-side work."
JPMorgan's $3 trillion settlement platform connected to the XRP Ledger to process a tokenized Treasury redemption pilot. The transaction completed on-chain in under five seconds, with U.S. dollars delivered to Ripple's Singapore bank in the same flow, compared to the typical one to three business day settlement period. Ripple's RLUSD stablecoin served as the settlement bridge, while XRP covered network fees. The pilot involved redeeming Ondo's OUSG tokens through RLUSD, with Mastercard routing cash instructions and JPMorgan handling bank-side operations. RLUSD's institutional compliance and Treasury backing made it suitable for institutional products, while XRP's price volatility excluded it from direct settlement use.
#xrp-ledger-settlement #tokenized-treasury-redemption #rlusd-stablecoin #jpmorgan-blockchain-pilot #institutional-cryptocurrency-infrastructure
Read at 24/7 Wall St.
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