Ondo Finance Launches $30M U.S. Treasury-Backed Token on XRP Ledger
Ondo Finance has launched its U.S. treasury-backed token, OUSG, on the XRP Ledger (XRPL), enabling institutional investors to manage cash on the blockchain.
- Qualified purchasers can mint and redeem OUSG tokens using Ripple’s RLUSD stablecoin.
- The initial supply of OUSG is set at $30 million to ensure liquidity.
- Tokenized U.S. Treasuries market value has increased to $7.2 billion from $1.7 billion in the previous year.
- OUSG's supply stands at $693 million, making it the third largest behind BlackRock's BUIDL and Franklin Templeton's BENJI.
- XRPL aims to become a hub for tokenized assets, with Guggenheim Treasury Services planning to issue Digital Commercial Paper and Dubai developing a tokenized real estate platform.