Ondo Finance Launches OUSG Tokenization on XRP Ledger
Ondo Finance has launched its Ondo Short-Term US Government Treasuries (OUSG) on the XRP Ledger (XRPL), enhancing access for institutional investors to tokenized Real World Assets (RWA).
Key Highlights
- OUSG allows minting and redemption through Ripple's stablecoin RLUSD.
- It has achieved over $670 million in Total Value Locked (TVL), ranking among the largest tokenized treasury products.
- OUSG provides lower fees, instant transactions, and daily interest payouts, primarily holding assets in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL).
- In February, Ondo announced plans to integrate its tokenized RWAs into Mastercard’s Multi-Token Network, eliminating the need for stablecoin onramps.
- The XRPL platform facilitates unrestricted subscription and redemption of OUSG, using RLUSD for settlement.
- XRPL supports tokenization with features like a built-in Decentralized Exchange and compliance-focused infrastructure.
- Ondo Finance introduced Ondo Chain, bridging Traditional Finance and blockchain technology.
- Partnership with World Liberty Financial aims to enhance RWA adoption in financial markets.