Ondo Finance brings tokenized US Treasury fund on Ripples XRP Ledger
- 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 OpenEdens 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 Ripples 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 Ripples 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
Ondos expansion of OUSG on XRPL follows Ripples RWA move that brought OpenEdens 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 Finances 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 Finances OUSG currently has a market cap of over $185 million.
Meanwhile, the platforms other US Treasuries offering, the U.S. Dollar Yield has over $384 million in total value locked. Per rwa.xyz, BlackRocks BUIDL and Franklin Templetons FOBXX are the top two with over $600 million and $509 million respectively.
OpenEdens TBILL, available on XRPL, has a market cap of just over $82 million.
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