29th January 2025 – (New York) Ondo Finance, a platform specialising in the tokenisation of real-world assets, has announced plans to launch its $185 million U.S. Treasury-backed token on Ripple’s XRP Ledger (XRPL). The move, revealed on Tuesday, aims to enhance institutional access to tokenized assets through the enterprise-focused blockchain.
The Ondo Short-Term US Government Treasuries (OUSG) token, backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), enables qualified investors to mint and redeem tokens almost instantly using Ripple’s RLUSD stablecoin. The deployment on XRPL is expected to go live within six months, according to a blog post by Ondo Finance.
Both Ripple and Ondo Finance have committed seed investments to provide liquidity for the XRPL integration, though the size of the allocations remains undisclosed. Following the announcement, Ondo…
