Ondo Finance, a tokenized real-world asset platform, is bringing its $185 million U.S. Treasury token to the enterprise-focused XRP Ledger network to expand the offering for institutions, the companies said Tuesday.
The EE. UU. UU. RLUSD STABLOIN DAY. The deployment is expected to pass live inside within within the next six months, said Ondo Finance in a blog post.
Both Ripple, the development firm closely related to the XRP Ledger, and Ondo Finance committed seed investments in the token on the XRP Ledger for initial liquidity. They did not reveal the size of the allocations.
ONDO, the governance token of Ondo Finance, advanced 4% on the news.
Real world asset token (RWA) is a rapid growth industry that represents classical monetary assets, such as bonds, credit and budget in a block chain.
Tokenized versions of U.S. Treasury notes spearheaded the trend, and have more than quadrupled over the past year to become a $3.5 billion asset class, rwa.xyz data shows.
“Intradía 24/7 regulation activated through record assets such as OUSG marks a transformative replace Ripplex, a corporate progression for the great XRP book, said the progression corporation of XRP’s great book, Markus said in a statement.
OUSG follows OpenEden’s TBILL as the second tokenized treasury product available on XRP Ledger. OUSG previously was available on Ethereum, Polygon and Solana.
Update (January 28, 2:00 pm UTC): Advance Advance in the press to the fourth paragraph.