# JPMorgan, Ripple, Mastercard, and Ondo Finance have completed a pilot transaction involving tokenized treasuries on the XRP Ledger.

*fintech · news · 2026-05-06 · CoinGape*

## Key points

- JPMorgan, Ripple, Mastercard, and Ondo Finance completed a real-time tokenized treasury settlement on XRPL.
- This marks the first cross-border, cross-bank U.S. Treasury settlement on a public blockchain in real time.
- Mastercard’s Multi-Token Network routed redemption instructions from XRPL to JPMorgan’s Kinexys platform.
- Total RWA value on the XRP Ledger has risen over 78% in 30 days, surpassing $3 billion.

**Companies:** JPMorgan, Mastercard, Ripple, Ondo Finance
**Countries:** United States, Singapore

[Read the full story on CoinGape](https://coingape.com/jpmorgan-ripple-ondo-complete-first-cross-border-tokenized-treasury-settlement-using-xrp-ledger/)

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