Ondo Finance launches tokenized U.S. Treasuries on XRP Ledger

Ondo Finance has launched its flagship tokenized U.S. Treasuries product, OUSG, on the XRP Ledger, marking a major step forward in institutional-grade decentralized finance.

According to a June 11 announcement on Ripple’s blog, qualified purchasers can now mint and redeem OUSG tokens around the clock using the RLUSD stablecoin as the settlement asset. OUSG, short for Ondo ( ONDO ) Short-Term U.S. Government Treasuries, provides exposure to low-risk, short-duration Treasury bills via tokenized money market funds. 

With more than $670 million in total value locked across chains and $30 million already on XRP ( XRP ) Ledger, it’s one of the largest tokenized Treasury products in the market. Institutional users looking for on-chain finance liquidity, speed, and compliance can now access OUSG on XRPL. 

Unlike conventional financial rails, which are limited by slow settlement cycles and banking hours, XRPL enables the real-time issuance and redemption of OUSG using RLUSD. This feature is attractive to institutions that operate across jurisdictions, as it improves capital efficiency, decreases idle cash buffers, and facilitates quicker cash flow management.

Ripple and Ondo have committed liquidity to jumpstart activity, helping RLUSD serve as a stable bridge for real-world asset settlements on XRPL. Markus Infanger, the senior vice president of RippleX, stated that the launch represents a move in tokenized finance from theory to practice. 

 “Ondo’s OUSG going live on the XRPL demonstrates that tokenized finance is no longer theoretical, it’s maturing in real markets. Institutions can now access high-quality assets like U.S. treasuries on public blockchains, with the compliance and efficiency they need.”

— Markus Infanger, SVP of RippleX

XRPL is a suitable platform for asset-backed tokens because of its native support for tokenization, decentralized exchange features, and identity standards. Future network features like multipurpose tokens, a lending protocol, and permissioned domains show a growing institutional focus.

OUSG’s rollout on XRPL comes after its launch on Ethereum ( ETH ) and Solana ( SOL ), putting the product in a position to reach even more institutional users. The market is developing quickly, with over $7 billion in tokenized Treasuries TVL worldwide.

As a result of its tokenization efforts, Ondo Finance was featured in World Economic Forum’s May 21 report , demonstrating its role in promoting adoption.