On Tuesday, Ondo Finance announced via a blog post that it will deploy Ondo Short-Term US Government Treasuries (OUSG), its tokenized US Treasury fund, on the XRP Ledger (XRPL).
This deployment, set to go live within the next six months, will bring OUSG to the XRPL's broad institutional user base, introducing a composable and compliance-first asset to a blockchain built for financial institutions.
The move will also establish an avenue for institutional DeFi and advanced cash management solutions, bringing DeFi and traditional finance closer than ever. Institutional investors on XRPL will now have access to OUSG, a product combining security, compliance, and yield backed by a high-quality US Treasuries fund and stringent KYC/AML standards.
Ripple is a privately held company that is building a payment and exchange network (RippleNet) on top of a distributed ledger database (XRP Ledger). The main goal of Ripple is to connect banks, payment providers, and digital asset exchanges, enabling faster and cost-efficient global payments. Its native XRP coin is down 1% and trades at $3.10