Ondo Finance’s tokenized US Treasury to join XRP Ledger
Upon launch, Ondo’s OUSG tokens will be redeemable using Ripple’s RLUSD stablecoin.
Tokenization protocol Ondo Finance plans to deploy its tokenized US Treasury fund on the XRP Ledger, giving investors access to institutional-grade government bonds that can be redeemed with stablecoins.
According to a Jan. 28 announcement, the Ondo Short-Term US Government Treasuries (OUSG) fund will go live on the XRP Ledger within the next six months. The announcement said Ondo and XRP Ledger developer Ripple plan to “seed OUSG liquidity” immediately upon launch.
OUSG provides exposure to short-term US Treasurys and is backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). According to Ondo, OUSG offers intraday settlement and redemptions.
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Author: Sam Bourgi
