XRP Settles First Cross-Border Treasury Redemption Between JPMorgan, Mastercard, and Ondo in 5 Seconds on May 6

XRP-0.5%
MA-0.02%
ONDO12.48%
According to Evernorth, on May 6, XRP Ledger facilitated the first cross-border, cross-bank redemption of tokenized U.S. Treasuries, with Ripple, JPMorgan's Kinexys, Mastercard, and Ondo Finance coordinating the transaction. Ondo's tokenized Treasury product (OUSG) was redeemed across the multi-institution workflow, with settlement completing in under five seconds and the final USD transfer landing in Ripple's Singapore account outside standard banking hours. The transaction contrasts with traditional correspondent banking, which typically takes one to three business days across multiple intermediaries and ledgers.
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