# JPMorgan and Mastercard have completed what they describe as the first cross-border, cross-bank settlement of a tokenized U.S. Treasury fund.

*fintech · news · 2026-05-07 · Crypto Breaking News*

## Key points

- JPMorgan, Mastercard, and Ripple completed the first real-time cross-border settlement of a tokenized U.S. Treasury fund.
- The settlement bridged public blockchain (XRP Ledger) and traditional interbank rails (Kinexys) via Mastercard’s Multi-Token Network.
- Ondo Finance’s OUSG fund was redeemed and settled in U.S. dollars to Ripple’s Singapore bank account.
- Over $31.1 billion in real-world assets are already tokenized onchain, excluding stablecoins.
- Regulatory uncertainty, especially around ownership and settlement finality, remains the main barrier to widespread tokenization.

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

[Read the full story on Crypto Breaking News](https://www.cryptobreaking.com/jpmorgan-mastercard-complete-cross-border/)

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