Highlights
The leading tokenized real-world asset (RWA) platform, Ondo Finance taps Ripple to bring its tokenized US Treasury fund OUSG to XRP Ledger (XRPL). This development has created a buzz in the broader crypto market, especially amid the soaring popularity of real-world asset (RWA) tokens. Besides, it also showcases the firm’s confidence in XRPL to increase its institutional reach.
In a recent Ondo Finance blog, the leader in tokenized real-world assets (RWA) said that it is deploying its flagship product, OUSG, on XRPL within six months. OUSG is backed by tokenized US Treasuries and BlackRock’s BUIDL fund, offering investors a secure, compliant, and yield-oriented solution. Ondo Finance said that the XRPL introduction is likely to boost the institutional reach towards OUSG.
Notably, this deployment underscores XRPL’s focus on institutional finance. With features like Decentralized Identifiers (DIDs) and on-chain credential management, XRPL is built to meet stringent regulatory standards. Ondo Finance stated that the partnership will redefine institutional DeFi by providing seamless access to compliant RWAs.
The introduction of OUSG to XRPL opens new doors for institutional-grade liquidity and security. According to the latest announcement, the key benefits are:
This integration also boosts XRPL’s reputation as a hub for tokenized assets, reflecting Ondo Finance’s confidence in Ripple’s network.
Notably, this announcement comes as Ripple has made headlines recently with its recent developments. For context, the launch of Ripple stablecoin RLUSD has made headlines in the crypto market, while a flurry of experts sees this as a major milestone for the blockchain firm. In addition, recently Ripple acquired Money Transmitter Licenses in New York and Texas, which has further fueled market sentiment.
Simultaneously, XRP Ledger has also been on the investors’ radar lately. Recently, a former Ripple executive highlighted Ripple’s key strategy that could boost the XRL Ledger revenue by 400X. This comment has sparked discussions in the market while showcasing the bullish outlook of the experts towards the project.
Following the announcement from Ondo Finance, ONDO price jumped nearly 5% to $1.37, reflecting the announcement’s positive impact on the investors’ sentiment. Notably, the crypto has touched a 24-hour low of $1.27. Besides, ONDO Futures Open Interest rose 4% to $441.18 million, indicating the bullish sentiment in the market.
Simultaneously, Ripple’s native crypto, XRP price rose nearly 9% at the same time to $3.15. Besides, market experts also anticipate the rally to continue for the crypto. Besides, former Ripple executive Sean McBride recently hinted towards upcoming positive news from the XRP Community Day, which might further fuel the already positive market sentiment.
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