Latest news with #OUSG
Crypto Insight
13-06-2025
- Business
- Crypto Insight
Chainlink, JPMorgan, Ondo Finance complete crosschain treasury settlement
Chainlink, JPMorgan's Kinexys and Ondo Finance completed a 'first-of-its-kind' crosschain delivery versus payment (DvP) settlement between a permissioned payment network and a public testnet. The test involved Kinexys Digital Payments, a permissioned network operated by JPMorgan and Ondo Chain's testnet, which is focused on real-world asset (RWA) tokenization, Chainlink said in a Thursday announcement. The settlement was coordinated using Chainlink's Runtime Environment (CRE), an offchain compute layer designed for interoperable financial systems. At the center of the transaction was OUSG, Ondo's tokenized US Treasurys fund, which was exchanged for payment via Kinexys' platform. The move comes as TradFi and decentralized finance (DeFi) increasingly converge. With over $23 billion in tokenized RWAs now live on public blockchains, the need for crosschain settlements grows. How was the settlement executed? The recent DvP test involved the exchange of OUSG and a simultaneous fiat payment through Kinexys Digital Payments. RE orchestrated the workflow, verified escrow events on Ondo Chain, initiated payment instructions via Kinexys and coordinated the final settlement. Notably, only transaction instructions crossed between networks. The successful transaction is the first to be executed on the Ondo Chain testnet and represents an expansion of Kinexys' settlement capabilities beyond private chains. 'CRE is highly configurable and can be used to settle different types of DvP transactions of varying complexity, including single-chain and multichain DvP transactions, enabling complex financial activity with reduced counterparty and settlement risk,' Chainlink said. RWA market surges 260% In the first half of 2025, the RWA market surged more than 260%, surpassing $23 billion in total valuation. It was $8.6 billion at the beginning of the year, according to a Binance Research report shared with Cointelegraph. Tokenized private credit led the RWA market boom, accounting for about 58% of the market share, followed by tokenized US Treasury debt, which accounted for 34%. New players also continue to enter the market. On June 5, Pan-European fund manager APS purchased 3 million euros ($3.4 million) in tokenized bonds tied to two Italian residential properties listed on MetaWealth. Source:
Yahoo
11-06-2025
- Business
- Yahoo
Ondo Finance Debuts $693M Treasury Token on XRP Ledger Amid Soaring RWA Trend
Tokenization platform Ondo Finance ONDO has debuted its flagship U.S. treasury-backed token on XRP Ledger (XRPL), giving institutional investors new tools to manage cash on the blockchain. Qualified purchasers can mint and redeem Ondo Short-Term U.S. Government Treasuries (OUSG) tokens around the clock using Ripple's U.S. dollar stablecoin RLUSD, the press release said. Initial supply of the token on XRPL is $30 million to ensure liquidity, the firms said. "This integration strengthens our commitment to providing reliable and composable infrastructure at the intersection of traditional finance and DeFi," Ian De Bode, chief strategy officer at Ondo Finance, said in a statement. The expansion follows Ondo's announcement in January, targeting to go live in six months, CoinDesk reported then. Tokenized Treasuries have spearheaded the rapidly growing real-world asset trend, which is bringing traditional financial instruments like bonds, funds and real estate onto blockchain rails. The market value of tokenized U.S. Treasuries mushroomed to $7.2 billion, up from $1.7 billion a year ago, according to These products allow investors to park idle cash without leaving blockchain rails to earn a steady yield that's independent from crypto markets, similar to a money market fund. Increasingly, they are also used as reserve assets for decentralized finance (DeFi) protocols and as collateral in trading and asset management. OUSG with $693 million supply is the third largest of its kind following BlackRock's BUIDL and Franklin Templeton's BENJI, per data. The new offering also fits into XRP Ledger's growing ambition to position itself as a hub for tokenized assets. This week, Guggenheim Treasury Services said it will issue Digital Commercial Paper on the network, while Dubai announced last month a tokenized real estate platform developed on XRPL as part of its $16 billion property tokenization in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets
Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets originally appeared on TheStreet. The old system still sleeps. Closes on weekends. Clears trades in days. Moves money in loops and calls it 'settlement.' A slow maze of custodians, paper trails, and batch processors dressed up as modern finance. Everyone nods. No one questions the lag. It's a scaffold of rules and rituals. Stitched together by inertia, policy, and trust in institutions that forgot how to earn it. Then stablecoins exposed the whole thing. They didn't just digitize the dollar, they outperformed it. Moved faster. Worked harder. Never closed. The result? A $230 billion asset class, foundational to crypto and leaking into TradFi like a quiet virus. A dollar that didn't need permission. Nathan Allman, founder and CEO of Ondo Finance saw it early. The Markets aren't built for a world that never closes. 'The financial system wasn't designed for the world we live in—it was stitched together over centuries,' he wrote. 'It's a patchwork of middlemen, paper trails, and private databases.' 'We have global investors, 24/7 assets, and programmable money. But the infrastructure they run on is still built around banking hours.' 'That's the disconnect we're addressing.' OUSG isn't a whitepaper. It's a pipeline. It wraps short-term U.S. Treasuries into a tokenized instrument that behaves like software. Internet-native yield. Real-time liquidity. Fully composable. It's not trying to be flashy. It just works. This isn't a concept. It's already in motion: -$1.3 billion in Treasuries tokenized between OUSG and USDY -BlackRock's BUIDL sits around $2.9b -Franklin Templeton's fund holds roughly $752b The total tokenized RWA market has surpassed $7 billion and it's no longer just theory. It's becoming standard infrastructure. 'Our approach is simple,' Allman says. 'Tokenize high-quality, yield-bearing assets. Wrap them in code. Make them programmable. Make them liquid.' 'What we've seen with OUSG is that institutions want the yield of Treasuries, but they also want the speed and composability of crypto. We're giving them both.' Earlier this month, Ondo integrated PayPal's PYUSD, bridging Treasuries and a major fiat-backed stablecoin. The result? Investors can now convert between sovereign debt and digital dollars instantly, on-chain. No wires. No waiting. Just finality. 'Finance is built on conversions,' Allman said in a recent statement. 'If you can't convert between assets instantly, at scale, you don't have real liquidity—you just have accounting entries.' The ambition isn't subtle. 'What stablecoins did for the dollar, Ondo will do for capital markets.' Not a tagline. A declaration of intent. Stablecoins cracked one flaw. Dollars couldn't function online. The rest of finance never caught up—yield markets, settlement logic, compliance theater—all still trapped in a paper-era fantasy of how money's supposed to move. Ondo's rewriting the stack—liquidity without pause, compliance baked into the logic, capital that moves like it forgot friction was ever a thing. 'We're not trying to create parallel universes,' Allman says. 'We're building bridges—between legacy finance and programmable finance.' The world is catching on. The World Economic Forum, Citi, and Bank of America all estimate tokenized assets could hit $5–10 trillion by 2030 Ondo isn't projecting it. Ondo is routing it. 'We're not here to disrupt,' Allman says. 'We're here to rebuild. The rails. The flow. The logic of how capital moves.' Ondo isn't projecting it. Ondo is routing it.' Most people can't move money without a delay. They can't see all their assets in one place. They can't borrow against U.S. Treasuries unless they're already rich or plugged in. Meanwhile, the machinery is unmistakably antiquated—batch processes, blind spots, and rails built for a slower world Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
JPMorgan's Kinexys Connects With Public Blockchain on Ondo Chain Testnet Debut
JPMorgan (JPM) took its first step onto a public blockchain network through its Kinexys Digital Payments platform, settling a tokenized U.S. Treasury transaction on Ondo Chain's testnet. The pilot, detailed in a press release shared with CoinDesk, marks the debut of a Delivery versus Payment (DvP) transaction on the testnet, a new layer-1 blockchain designed to support institutional-grade real-world assets. Kinexys, which the release says processes an average of over $2 billion in daily transaction volume, handled the payment leg, while Ondo Finance's tokenized short-term Treasury fund (OUSG) formed the asset leg. Chainlink Runtime Environment — a system for coordinating cross-chain workflows —secured the settlement across the two networks. This is the first time Kinexys, the Wall Street bank's permissioned network, has executed a transaction on a public blockchain. The move signals a shift as the bank explores ways to extend its institutional payments infrastructure into the growing market for real-world asset tokenization. ' By securely and thoughtfully connecting our institutional payments solution with both external public and private blockchain infrastructures seamlessly, we can offer our clients and the broader financial ecosystem a wider range of benefits and scalable solutions for settling transactions,' Nelli Zaltsman, head of settlement solutions at Kinexys, said in the statement. Traditional finance often struggles with DvP transactions, which require payments to be made before or at the same time as delivery of securities, due to fragmented systems and manual steps that delay settlement, the release notes. It points to data suggesting payment and settlement failures have cost market participants over $900 billion in the past 10 years. Blockchain technology, it says, can be leveraged to conduct simultaneous cross-chain transactions. JPMorgan has been expanding its blockchain-based payments network, having recently added support for British-pound denominated accounts. Error while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Ondo Finance enables 24/7 conversions between OUSG and PayPal USD
Ondo Finance has launched 24/7 instant conversions between its tokenized Treasury product, OUSG (Ondo Short-Term US Government Treasuries), and PayPal USD (PYUSD), the stablecoin issued by Paxos and available via PayPal and Venmo. The update allows users to seamlessly mint OUSG using PYUSD and redeem it back to PYUSD anytime, offering greater liquidity for OUSG holders and boosting the real-world utility of PayPal's stablecoin. The $25 million conversion facility is one of the largest of its kind between a stablecoin and tokenized money market fund. 'Enabling OUSG and PYUSD conversions broadens the range of trusted, high-quality settlement options available to our clients,' said Nathan Allman, CEO of Ondo Finance. 'We're thrilled to deepen our relationship with PayPal and play a leading role at the intersection of traditional finance and DeFi.' The launch is part of Ondo Nexus, the firm's tech platform that supports instant liquidity for tokenized Treasury issuers. With this system, holders of tokenized Treasuries — including those offered by other issuers — will be able to redeem their assets instantly for stablecoins like PYUSD. OUSG remains Ondo's flagship product with over $525 million in total value locked. It offers 24/7 redemptions with no fees, daily interest accruals, and multi-chain support on Ethereum and Solana. The fund is backed by high-quality assets, including BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton's OnChain U.S. Government Money Fund, WisdomTree's Digital Government Money Market Fund, and FundBridge Capital's Ultra Short Treasury On-Chain Fund. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
