# Ondo Finance says it completed the first near-real time cross-border redemption of a tokenized U.S. Treasury fund.

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

## Key points

- Ondo Finance completed the first near-real time cross-border redemption of a tokenized U.S. Treasury fund.
- The transaction was processed in under five seconds using the XRP Ledger and Kinexys by JPMorgan.
- Mastercard's Multi-Token Network enabled settlement interoperability between on-chain assets and traditional fiat money.
- JPMorgan's Kinexys platform has processed over $3 trillion in transactions, underscoring institutional adoption.
- DTCC is preparing to launch a tokenization service later this year, signaling accelerated industry activity.

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

[Read the full story on Decrypt](https://decrypt.co/367033/ondo-jpmorgan-mastercard-ripple-settle-tokenized-treasuries-xrp-ledger)

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