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Ondo Finance brings tokenized US Treasury fund on Ripple’s XRP Ledger

Brings
  • Ondo Finance will launch its OUSG fund on the XRP Ledger.
  • The partnership with Ripple expands accessibility to tokenized US Treasuries funds to institutional investors.
  • Ripple introduced OpenEden’s TBILL on XRPL in August last year.

Tokenized real-world assets platform Ondo Finance is set to bring its U.S. Treasury token OUSG to Ripple’s enterprise-focused network XRP Ledger.

Ondo Finance and Ripple shared the integration news on Tuesday, Jan. 28.

The launch will expand access to tokenized US Treasuries to institutional investors, with BUIDL-backed Ondo Short-Term U.S. Government Treasuries (OUSG) providing 24/7 minting and redemption via Ripple’s stablecoin RLUSD.

Ripple and @OndoFinance are bringing OUSG, tokenized U.S. Treasuries to the XRP Ledger.

With 24/7 minting & redemption using RLUSD, unmatched liquidity, and institutional-grade security, learn how this partnership marks a major step forward for onchain RWAs.… pic.twitter.com/0T3mXGSxbW

— RippleX (@RippleXDev) January 28, 2025

Ondo’s expansion of OUSG on XRPL follows Ripple’s RWA move that brought OpenEden’s TBILL to the network in August 2024.

“This integration is the natural convergence of a compliance-first, yield-bearing product with a network purpose-built for institutional adoption, setting the groundwork for forward-thinking institutions to lead a new era of capital markets onchain,” Ondo Finance vice president of partnerships Katie Wheeler noted.

A $3.5 billion market

Ripple and Ondo Finance’s collaboration adds further traction to the RWA and specifically, tokenized US Treasuries market. The sector has witnessed tremendous growth in the past year, with the market now at $3.5 billion.

Ondo Finance’s OUSG currently has a market cap of over $185 million.

Meanwhile, the platform’s other US Treasuries offering, the U.S. Dollar Yield has over $384 million in total value locked. Per rwa.xyz, BlackRock’s BUIDL and Franklin Templeton’s FOBXX are the top two with over $600 million and $509 million respectively.

OpenEden’s TBILL, available on XRPL, has a market cap of just over $82 million.

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