Blockchain test moves $31B in tokenized Treasuries across borders in seconds
A major blockchain transaction has demonstrated how tokenized assets can move across borders in seconds. Four financial firms—Ondo Finance, Ripple, JPMorgan, and Mastercard—recently completed a near real-time US Treasury redemption using the XRP Ledger. The deal highlights growing institutional interest in blockchain-based settlements for traditional assets. The transaction involved settling tokenized US Treasuries between participants in under five seconds. The XRP Ledger provided the infrastructure, enabling fast execution and minimal costs. This marks one of the first confirmed cases of institutions using blockchain rails for cross-border Treasury settlements.
Following the news, ONDO’s token price surged by 29% within a week. It climbed from around $0.27 to $0.348, outperforming XRP’s 2.5% gain over the same period. Data from Santiment showed ONDO capturing stronger momentum compared to XRP after the announcement. The deal also underscores the scale of tokenized real-world assets. Current figures indicate that $31.12 billion in traditional assets, such as bonds and commodities, are now represented on blockchains. This trend suggests broader adoption of blockchain technology in mainstream finance.
The successful redemption confirms that blockchain can handle high-speed, low-cost settlements for institutional transactions. With $31.12 billion in assets already tokenized, the test case points to further integration of traditional finance with decentralised ledgers. Market reactions, including ONDO’s price jump, reflect growing confidence in this approach.
