In the latest cryptocurrency news, Ondo Finance is making waves by announcing its ground breaking initiative to bring $185 million worth of U.S. Treasuries onto the XRP Ledger.
- Ondo Finance, a leading issuer of RWAs, is bringing $185 Million worth of Tokenize Treasury to Ripple’s XRP Ledger (XRPL)
- The partnership gives institutional investors on Ripple ledger access to OUSG tokens.
- The announcement triggers a 10% value gain for both ONDO and XRP coins.
Ondo Finance has partnered with Ripple in a deal that will see the Real World Assets (RWAs) issuer deploy $185 million worth of Ondo Short-Term US Treasuries on the XRP Ledger.
The deployment is set to go live over the next six months, and the OUSG will be backed by both the US Treasuries and the Blackrock USD Institutional Digital Liquidity Fund (BUIDL).
These tokens can be minted and redeemed instantly, and both Ondo Finance and Ripple have committed to seeding OUSG liquidity upon deployment.
Note that tokenized US treasuries have witnessed exponential growth over the recent past few years. Moving forward, they are expected to sustain this momentum and potentially reach $16 Trillion by 2030.
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How will Ripple Ledger benefit OUSG?
According to Ondo Finance, onboarding OUSG to the Ripple Ledger will have three key benefits. First, it will give institutional investors on XRPL first-hand access to an investment product that is backed by the US Treasuries fund. Secondly, it will have access to established liquidity that drives up further adoption of tokenized RWAs.
The RWA issuer goes on to state that:
“A key feature of OUSG on the XRPL is going to be seamless interoperability with Ripple’s RLUSD stablecoin … This integration will allow instant minting and redemption of OUSG via RLUSD, empowering users with round-the-clock liquidity and financial flexibility.”
Ondo news contributes to XRP rally
ONDO reacted bullishly to the announcement with a 10% value gain over the past 24 hours. At the time of writing, the coin was trading around $1.40 and had its intraday price action ranging between $1.27 and $1.44.
In the year to date, ONDO has dipped by 2%, and analysts are hopeful that this is the trigger ONDO needs to rebound, possibly recapturing the all-time high it recorded in December 2024.
ONDO price action via CoinMarketCap
XRP has also reacted positively to the announcement, with its price rallying by a similar margin. This positive price action could also be attributed to a recovering crypto market, the liquidation of $3.3 million worth of XRP, and an expectation of positive news from the FOMC meeting.
