XRP Ledger (XRPL) today transformed from theoretically to production-grade finance as Ondo Finance developed its marked U.S. Treasury Fund, Ondo Short-term U.S. Treasury Department (OUSG), directly online. The launch allows qualified buyers to mint or redeem OUSGs around the clock by forming an alliance with Ripple’s enterprise-class Stablecoin rlusd, effectively combining BlackRock’s Treasury bills with 24/7 public chains and their locally distributed exchanges.
OUSG is not a boutique proof of concept. The fund has a total value of more than $670 million and sits on the top of the rapidly expanding tokenized memorial alliance table with Belek’s own Buidl and Franklin Templeton’s FOBXX. Ondo’s broader real-world (RWA) platform manages approximately $1.3 billion, but this is its first deployment on non-EVM chains, an endorsement of the symbolic track of XRPL-specific builds.
How it works on XRP Ledger
Institutional investors create or redeem OUSG in a single transaction by delivering or receiving RLUSD (Ripple’s Dollar-Pegggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggne stablecoin) which stabilizes settle on XRPL. Because RLUSD itself moves final performance in three to five seconds, the OUSG subscription bypasses legacy deadlines and traditional bank wires. Ripple and Ondo have committed liquidity to sell legs (Rlusd lusd ↔USD Off-Chain and Rlusd lusd ↔OUSG), so investors can expand or expand out without slipping.
The entire process maintains permissions at the edge and has no authority in the core. Qualified buyers authenticate through Ondo’s compliance portal (with decentralized identifiers and verifiable credentials), receive the allow list flag on the chain, and then interact with the built-in DEX like any other pair of asset. Settlement remains atomic mass: OUSG units burn or cause mint during RLUSD transfer, eliminating the sunlight risk gap that plagues the traditional T-Plus settlement cycle.
Deterministic orders, low fees and local tokens for XRPL – The issuing original issuer needs to pin the smart contract wrapper to obtain basic custody logic. The upcoming multifunctional token (MPT) will allow OUSG to embed cash flow rights and compliance fences at the protocol level, while the planned loan agreement will allow Desks to relocate OUSG as Repo collateral without bridging other chains. The allowed domain names will give asset managers a namespace level control over transactions within the walled garden, a prerequisite for a regulated liquidity pool.
For the miscellaneous things that the finance team had performed hybrid cash buffers, XRPL’s tagged bill instantly unlocked the redeployment of idle dollars. A fund manager redeems OUSG at 21:00 ET Friday will receive the RLUSD in seconds and can cycle through overnight reverse repo, Stablecoin liquidity farming or FX solutions in Asia before traditional markets open. Instead, companies that scan the remaining RLUSD into OUSG every night now capture our fiscal gains without manipulation.
Markus Intanger, senior vice president of Ripplex, listed the launch as a watershed: “Ondo’s OUSG live streaming on XRPL shows that tokenized finance is no longer theoretical, it is theoretically mature in the real market – institutions can now access high-quality assets on our public scale and integrate them into compliance, which is their compliance and efficiency. Markets – improve liquidity, operational efficiency and faster capital access.”
What will happen next
Ripple and Boston Consulting Group’s joint reporting project, that tokenization will convert $19 trillion in reality assets into programmable instruments from 2033 to 2033. Treasury will appear as Beachhead: they are low-risk, deep liquids, and have been digitized in the Master Ledger at Federal Reserve, making it the first repetitive wave of repetitions. The total tokenized assets this year have soared by $7 billion, more than doubled since January and are expected to erode the entire Stablecoin buoy at the end of the year.
The migration of OUSG to XRPL may accelerate this trend. BlackRock’s Buidl Fund (the basic asset pool in OUSG deposits) allocates interest every day and allows Stablecoin redemption on the day, allowing chain holders to gain experience in monetary marketing funds without bank restrictions. By pinning the mechanism to the always-closing layer of XRPL, Ripple and Ondo effectively create a composable fiscal bill that both “insert and play” both use any XRPL-NENATITE application.
The direct roadmap is functional, not speculative: Open a secondary RLUSD-OUSG order book on XRPL’s DEX, once life, integrate OUSG as collateral for the XRPL-based loan market and expand mint and burn to additional qualified buyer jurisdiction as a regulator signing identity stack. In the long run, Ripple plans to use RLUSD as a hub currency for other RWAs (using commercial paper and municipal annotations) to place XRPL in a full spectrum capital market substrate.
At press time, XRP was trading at $2.32.
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