Ripple has brought Ondo Finance’s tokenized US Treasuries product, Ondo Short-Term US Government Treasuries (OUSG), to the XRP Ledger.
The launch was announced on June 11 and is seen as a move to expand the reach of institutional-grade tokenized assets across the fast-rising blockchain network.
According to the statement, the integration allows institutional investors to mint and redeem OUSG on XRPL using RLUSD, Ripple’s new stablecoin. This offers an alternative to traditional finance rails by enabling seamless access to tokenized Treasury exposure around the clock.
At the same time, Ripple and Ondo have also committed liquidity to ensure the product launches with strong trading activity on XRPL. RLUSD will act as a key enabler for cross-network utility and settlement.
OUSG provides permissioned on-chain access to short-term US Treasury yields. According to RWA. XYZ data, the platform currently ranks among the largest tokenized Treasury products worldwide, with a reported market value of approximately $692 million.
Following the announcement, Ondo’s native ONDO token recorded a 4% price gain, trading near $0.90 at press time, according to data from CryptoSlate.
XRPL’s tokenization efforts
OUSG’s XRPL launch aligns with Ripple’s broader efforts to position the network as a competitive platform for tokenized real-world assets (RWAs).
Over the past year, Ripple has pursued multiple partnerships, including one with Guggenheim Partners, to advance tokenization initiatives on XRPL.
The firm’s strategy is driven by forecasts that the tokenized asset market could reach $19 trillion by 2033. This is already evident in the rapid traction of tokenized treasury and money market products as asset managers like BlackRock explore new ways to modernize fund distribution and settlement processes.
As a result, the market is gaining broad adoption across the board. Markus Infanger, Senior Vice President at RippleX, said:
“Institutions can now access high-quality assets like US treasuries on public blockchains, with the compliance and efficiency they need. This represents progress in bringing trusted financial assets into a 24/7 market—enabling greater liquidity, operational efficiency, and faster access to capital.”
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