Tokenized U.S. Treasuries Launch on XRP Ledger

Ondo Finance launched its tokenized U.S. Treasury product on the XRP Ledger on June 11, marking a significant step in integrating traditional financial assets with blockchain technology.

The launch of OUSG, backed by BlackRock’s $BUIDL fund, gives institutional investors around-the-clock access to U.S. Treasuries through Ripple‘s RLUSD stablecoin on the XRP Ledger blockchain platform.

Tokenized assets convert real-world assets like treasuries into digital tokens on blockchain networks. The market for tokenized U.S. Treasuries reached $7.2 billion by June 2025, according to rwa.xyz data.

Ondo Finance’s OUSG holds more than $670 million in total value locked, making it one of the largest offerings alongside products from BlackRock and Franklin Templeton. The system allows qualified institutional investors to mint and redeem assets without traditional banking hour constraints.

The XRP Ledger has processed more than 3.3 billion transactions since its creation and now handles over $7 billion in tokenized assets, according to a 2025 Ripple-BCG tokenization report. The platform offers low transaction fees, rapid settlement and compliance features through Decentralized Identifiers.

RLUSD, Ripple’s dollar-pegged stablecoin, serves as the settlement currency to ensure stability and liquidity.

World Economic Forum study estimated blockchain adoption in capital markets could save $15-20 billion annually in infrastructure costs by improving efficiency and liquidity.

Ondo Finance manages over $1.3 billion in total value locked across its tokenized offerings. The collaboration with Ripple and BlackRock, which manages more than $10 trillion in assets, signals growing institutional acceptance of tokenized assets.

“Ondo’s OUSG going live on the XRPL demonstrates that tokenized finance is no longer theoretical, it’s maturing in real markets,” said Markus Infanger, senior vice president of RippleX. “This represents progress in bringing trusted financial assets into a 24/7 market—enabling greater liquidity, operational efficiency, and faster access to capital.”

The Ripple-BCG report projects a $19 trillion tokenization market by 2033. Tokenized treasuries lead this growth with $7 billion in total value locked already achieved.

Ripple integrated RLUSD with DeFi protocols through a January 2025 partnership with Chainlink, reinforcing its role in bridging traditional and digital finance.