TechFlow reports that on May 6, according to an official announcement by Ondo Finance, Ondo, Kinexys by J.P. Morgan, Mastercard, and Ripple have completed a pilot transaction connecting the XRP Ledger with an interbank clearing network. This marks the first time tokenized U.S. Treasury securities have achieved cross-border, cross-bank near real-time settlement—unconstrained by traditional banking hours. Specifically, Ondo processed Ripple’s OUSG redemptions on the XRP Ledger; Mastercard’s Multi-Token Network routed instructions to Kinexys by J.P. Morgan; and J.P. Morgan then delivered U.S. dollars to Ripple’s Singapore bank account.
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