XRP Ledger Welcomes Ondo Finances Tokenized US Treasury Fund Backed by BlackRocks BUIDL
The XRP Ledger is set to welcome an institutional-grade financial solution with the deployment of Ondo Finances tokenized U.S. Treasury fund.Today, Ondo Finance disclosed plans to launch its Ondo Short-Term US Government Treasuries (OUSG) on XRPL. The company disclosed this move in a tweet today, revealing that the tokenized fund will launch on XRPL within the next six months. https://twitter.com/OndoFinance/status/1884225080349102226 According to the notification, this move will give institutional investors on XRPL access to a secure, compliant, and yield-bearing asset backed by high-quality U.S. Treasuries. With rigorous KYC/AML standards in place, OUSG promises to bring institutional-grade finance to the blockchain scene, allowing users to invest in tokenized real-world assets (RWAs) in a compliant manner.Key Features of OUSG on XRPLThe integration of OUSG on the XRP Ledger introduces several advanced features to support institutional adoption of tokenized assets.Notably, Ondo and Ripple have entered a partnership, committing to providing initial liquidity for OUSG to ensure its adoption on the XRPL. A key feature is the 24/7 minting and redemption of OUSG via Ripple's RLUSD stablecoin.Specifically, minting and redeeming OUSG with RLUSD will be seamless on XRPL. It would provide users with continuous liquidity and enhanced financial flexibility without traditional trading hours limitations.Notably, XRPLs low fees, high throughput, and deep institutional ties make it an ideal platform for integrating tokenized RWAs like OUSG. Moreover, its native compliance features, including Decentralized Identifiers (DIDs) and on-chain credential management, provide robust regulatory adherence.As part of its offerings, OUSG ensures institutional investors can access a safe, low-risk investment option. It boasts backing from the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).Other tokenized Funds on XRPLRecall that in August 2024, OpenEden launched tokenized U.S. Treasury bills on XRPL, which marked a major step in integrating traditional financial assets with blockchain.These tokens are backed by short-dated U.S. T-bills and reverse repurchase agreements and adhere to strict KYC and AML standards. Notably, Ripple invested $10 million in OpenEdens TBILL tokens as part of its broader strategy to support tokenized assets.Now, Ondo Finance has disclosed plans to pursue a similar initiative. According to the announcement, by bringing OUSG to XRPL, Ondo Finance is further pushing the boundaries of institutional DeFi and shaping the future of treasury management on the blockchain.
Text source: The Crypto Basic
