Ripple, Ondo Test XRP Ledger Settlement With JPMorgan Bank Rails
Kinexys by J.P. Morgan handled the settlement leg. It delivered U.S. dollars to Ripple‘s bank account in Singapore through the bank’s correspondent network. The structure kept the tokenized asset leg onchain while the dollar leg moved through regulated banking infrastructure. That design shows why banks view tokenization as a practical bridge, not a full replacement. A fund token can be moved across a public network at any time. The cash settlement still requires bank accounts, compliance controls, and payment instructions. XRP Ledger Brings Tokenized Treasuries Near Bank Money Ondo said the pilot marked the first time tokenized U.S. Treasuries were settled across borders and banks in near real time. It places XRP Ledger inside an institutional route involving large financial brands. The timing also aligns with Wall Streets broader tokenization push. J.P. Morgan, BlackRock, BNY, Franklin Templeton, and other firms keep testing tokenized funds and blockchain settlement. U.S. Treasuries are also important, as they underpin global cash management, liquidity, and collateral markets. For institutions, tokenized treasuries can provide greater than crypto exposure. They can facilitate quicker subscription, redemption, intraday liquidity, and clean records. However, large investors still need banking links before they can use these products at scale. That is where this pilot matters. Mastercard routed