# JPMorgan, Mastercard, Ripple, and Ondo Finance have completed a cross-border, cross-bank redemption of a tokenized U.S. Treasury fund using the XRP Ledger and traditional banking rails.

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

## Key points

- JPMorgan, Mastercard, Ripple, and Ondo Finance completed a cross-bank redemption of tokenized Treasuries using XRP Ledger.
- This marks the first near real-time cross-border settlement of tokenized U.S. Treasuries outside traditional banking windows.
- The pilot achieved sub-five second asset settlement on the XRP Ledger, while dollar proceeds moved via JPMorgan's banking network.
- Institutions conducted the transaction as a single integrated flow combining public blockchain and fiat banking infrastructure.
- Wider adoption still requires legal clarity, risk controls, and clear rules for settlement finality in tokenized finance.

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

[Read the full story on Crypto News](https://crypto.news/jpmorgan-mastercard-and-ripple-test-tokenized-treasury-settlement-on-xrpl/)

---

Canonical: https://newsio.io/n/f1d2ae1f-b4a2-415e-b33b-f384d695b8f7/jpmorgan-mastercard-ripple-and-ondo-finance-have-completed-a-cross-border-cross
Summarized by Newsio from Crypto News. https://newsio.io/how-it-works