Ripple and Ondo Launch Tokenized U.S. Treasuries on XRPL with RLUSD

• OUSG, a tokenized U.S. Treasury fund, just went live on XRPL, powered by RLUSD, giving users around-the-clock access.
• That’s over $670 million in U.S. Treasuries now brought fully on-chain, backed with legit institutional-level infrastructure.

Big move from Ondo Finance today,  their flagship tokenized U.S. Treasury fund, OUSG, just went live on the XRP Ledger (XRPL). It’s a shift for real-world assets on-chain. From now on, qualified investors can mint or redeem OUSG anytime, using Ripple’s RLUSD stablecoin for smooth settlement. This launch is about making legacy finance move at the speed of DeFi.

OUSG is coming in with around $670 to $700 million already locked in at launch, it’s instantly one of the biggest tokenized Treasury plays out there. That puts it in the same league as heavyweights like BlackRock’s BUIDL and Franklin Templeton’s FOBXX. The fund is backed by Ondo Finance, which is now managing over $1.3 billion in real-world assets. OUSG was their first security token to really take off, and it’s clearly found its stride. Believing that this isn’t just another wrapped asset, it’s part of a real shift in how traditional securities are hitting the blockchain.

Backed by research from Ripple and Boston Consulting Group, Ondo and Ripple are betting big on where this is all headed. They’re projecting tokenized assets to grow into a $19 trillion market by 2033. And XRPL’s built to handle that kind of scale. It’s got native support for tokenization, a built-in DEX, super-fast settlement times, and features like Decentralized Identifiers (DIDs) and permissioned domains that help check the compliance boxes institutions care about.

Why This Matters for Capital Markets

For treasury teams and big institutions, getting U.S. Treasuries on-chain with RLUSD changes the game. No more stressing over outdated wire cutoff times or trying to navigate clashing global time zones. With atomic mint-and-redeem, these transactions go through almost instantly, no delays, no middle-of-the-night settlement risk. It means faster, cleaner access to yield without the mess of traditional systems slowing things down.

Ripple and Ondo are also stepping in with committed liquidity to kickstart early trading, making sure RLUSD-OUSG pairs have tight spreads and easy market access right out of the gate. This kind of support isn’t just about smoother trades, it’s laying the groundwork for what comes next, think of  lending markets, using OUSG as repo collateral, or tapping into broader on-chain finance through XRPL’s multi-purpose tokens (MPTs) and permissioned domains. It’s the infrastructure that could make tokenized Treasuries way more useful across the DeFi landscape.

With OUSG now live on XRPL, Ripple and Ondo have basically built a bridge between traditional U.S. Treasuries and the world of DeFi. It’s not just about wrapping assets, it’s about bringing real-time liquidity, compliance-aware rails, and the kind of stability institutions actually need. As tokenized Treasuries pick up speed, XRPL is positioning itself as a serious backbone for what’s next in programmable capital markets. This rollout isn’t just a win for Ripple and Ondo—it’s a signal of where the space is headed.

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