Ondo Finance Brings Tokenized Treasuries to the XRP Ledger with Seamless Mint & Redeem via Ripple’s RLUSD Stablecoin

Ondo Finance has launched its flagship tokenized US treasury fund, Ondo Short-Term US Government Treasuries (OUSG), on the XRP Ledger (XRPL), a decentralized layer-1 blockchain.

Now, for the first time, Qualified Purchasers can seamlessly subscribe and redeem OUSG on XRPL around the clock with RLUSD, Ripple’s enterprise-grade stablecoin.

This launch brings OUSG to the XRPL's broad institutional user base, introducing a composable and compliance-first asset to a blockchain built for financial institutions. This integration establishes an avenue for institutional DeFi and advanced cash management solutions, bringing DeFi and traditional finance closer than ever.

Key Highlights of the Deployment

This integration unlocks several firsts for the XRPL ecosystem:

• Bringing OUSG to the XRPL: Institutional investors on XRPL can now access OUSG, providing exposure to short-term US Treasuries, with yield generated via a diversified portfolio of institutional money market funds.
• Seamless Mint and Redemption with RLUSD: Users can convert in and out of OUSG and RLUSD, with Seamless minting and redemptions, enabling round-the-clock capital access and deployment. 
• Accessible Settlement and Liquidity: OUSG and RLUSD offer high-quality, low-risk liquidity options. The intraday settlement breaks free from traditional trading hours, enabling efficient portfolio management and greater access to tokenized US Treasuries-backed assets.
• Established Liquidity: OUSG launches with $30m in committed TVL, driving further adoption of tokenized RWAs on the XRPL.
• Stablecoin Utility Beyond Payments: RLUSD becomes a direct bridge into real-world asset exposure onchain, enabling its use as a stable liquidity rail for institutions and builders alike.

SVP of RippleX Markus Infanger commented, “Ondo’s OUSG going live on the XRPL demonstrates that tokenized finance is no longer theoretical, it’s maturing in real markets. Institutions can now access high-quality assets like US Treasuries on public blockchains, with the compliance and efficiency they need. This represents progress in bringing trusted financial assets into a 24/7 market—enabling greater liquidity, operational efficiency, and faster access to capital.”

Ian De Bode, Chief Strategy Officer at Ondo Finance said, “Bringing OUSG to XRPL with RLUSD as a settlement option broadens access to high-quality, onchain financial instruments. This integration strengthens our commitment to providing reliable and institutional-grade assets at the intersection of traditional finance and DeFi.”

OUSG and XRPL: Building Institutional-Grade Finance 

Ondo Finance continues to lead the way in real-world asset tokenization, with over $1.3B in TVL. OUSG was the first tokenized security to achieve material adoption and, with over $690M in TVL, remains one of the largest tokenized Treasury products in the market—alongside offerings from BlackRock and Franklin Templeton.

OUSG delivers seamless subscriptions and redemptions, daily interest accruals, low fees, and multi-chain support across Ethereum, Solana, and now the XRP Ledger. OUSG’s portfolio is invested in funds such as the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton's Franklin OnChain US Government Money Fund (FOBXX), WisdomTree's Government Money Market Digital Fund (WTGXX), and FundBridge Capital's Delta Wellington Ultra Short Treasury On-Chain Fund (ULTRA).

By bringing OUSG to the XRPL, Ondo Finance is bringing institutional-grade assets directly to the institutions, providing access to high-quality tokenized assets as flexible treasury management tools. As global demand for tokenized financial products accelerates, this expansion furthers our mission to bridge traditional finance and onchain markets. We’re proud to bring OUSG to the XRP Ledger, deepening access to institutional-grade yield and enabling new use cases for RLUSD.