Ripple and Ondo Finance have partnered to introduce the tokenized US Treasury fund OUSG to the XRP Ledger (XRPL) to extend institutional reach.
The foremost tokenized real-world asset (RWA) platform, Ondo Finance, has collaborated with Ripple to integrate its tokenized US Treasury fund, OUSG, into the XRP Ledger (XRPL). In the context of the increasing prevalence of real-world asset (RWA) tokens, this development has generated significant excitement in the broader crypto market. The firm’s confidence in XRPL to expand its institutional reach is also demonstrated.
OUSG is introduced to XRPL by Ripple and Ondo Finance
The industry authority in tokenized real-world assets (RWA) recently announced that it would deploy its primary product, OUSG, on XRPL within the next six months in a blog post on Ondo Finance. The OUSG fund is supported by tokenized US Treasuries and BlackRock’s BUIDL fund, providing investors with a secure, compliant, and yield-oriented solution. Based on Ondo Finance’s assessment, the introduction of XRPL is anticipated to increase the institutional reach of OUSG.
It is important to note that this deployment emphasizes XRPL’s emphasis on institutional finance. With on-chain credential management and Decentralized Identifiers (DIDs), XRPL is designed to adhere to rigorous regulatory requirements. By offering seamless access to compliant RWAs, the partnership will revolutionize institutional DeFi, according to Ondo Finance.
How will XRPL benefit OUSG?
New opportunities for institutional-grade liquidity and security are presented by the integration of OUSG into XRPL. The primary benefits, as per the most recent announcement, are as follows:
24/7 Liquidity: Ripple’s RLUSD stablecoin can be used by investors to mint and redeem OUSG anytime, providing unparalleled financial flexibility.
Security and Compliance: OUSG implements rigorous Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols to guarantee regulatory compliance.
Ecosystem Enhancement: OUSG is supported by high-quality US Treasuries and is in alignment with XRPL’s infrastructure, offering institutions efficient, low-risk portfolio management options.
In addition, this integration enhances XRPL’s status as a center for tokenized assets, which indicates Ondo Finance’s confidence in Ripple’s network.
Ripple and XRPL Are In Focus
Notably, this announcement coincides with Ripple’s most recent advancements, which have garnered headlines. To provide context, the Ripple stablecoin RLUSD has garnered significant attention in the crypto market, and several experts regard this as an important milestone for the blockchain-based organization. Further, Ripple has recently acquired Money Transmitter Licenses in Texas and New York, contributing to the positive market sentiment.
At the same time, investors have been monitoring XRP Ledger recently. Recently, a former Ripple executive emphasized the company’s primary strategy, which can potentially increase the XRL Ledger revenue by 400 times. While demonstrating the bullish outlook of the experts toward the project, this comment has prompted discussions in the market.
The price of ONDO and XRP Skyrockets
In response to the announcement from Ondo Finance, the price of ONDO increased by nearly 5% to $1.37, which indicates the positive sentiment that investors experienced. The cryptocurrency has reached a 24-hour low of $1.27, particularly noteworthy. In addition, the favorable sentiment in the market was reflected in the 4% increase in ONDO Futures Open Interest to $441.18 million.
Parallel to this, the price of Ripple’s native cryptocurrency, XRP, increased by nearly 9% to $3.15. In addition, market analysts anticipate that the cryptocurrency’s rallies will persist. In addition, Sean McBride, a former executive of Ripple, recently suggested that the XRP Community Day may yield positive news, which could exacerbate the already optimistic market sentiment.
