- OUSG brings 24/7 access to tokenized U.S. Treasuries on the XRP Ledger.
- RLUSD enables instant settlement and redemption of treasury assets on XRPL.
- Tokenized treasuries surpass $7B TVL, led by Ondo, BlackRock, and Franklin Templeton.
Tokenized U.S. Treasuries have launched on the XRP Ledger (XRPL) following the integration of Ondo Finance’s short-term treasury product, OUSG. The move introduces 24/7 institutional access to a traditionally restricted asset class, marking a major move in blockchain-based financial instruments. The integration will enable Qualified Purchasers to mint and redeem OUSG using Ripple’s RLUSD stablecoin, backed by BlackRock’s BUIDL fund.
This advancement is part of a broader shift toward tokenized real-world assets (RWAs), as highlighted in a recent report by Ripple and Boston Consulting Group (BCG), which estimates the tokenized asset market could reach $19 trillion by 2033. OUSG, with over $670 million in total value locked (TVL), is among the largest tokenized treasury offerings and is now accessible through blockchain-native infrastructure.
XRPL Becomes Settlement Layer for Institutional Treasuries
The XRP Ledger was selected due to its compliance-ready layout and support for tokenization. XRPL includes native tools like a decentralized exchange, Decentralized Identifiers (DIDs), and low-fee infrastructure that meet institutional needs.
These features allow for programmable asset settlement with high transaction finality and minimal latency. With the OUSG rollout, Qualified Purchasers can now execute round-the-clock conversions using RLUSD as the base settlement asset.
Ripple and Ondo have provided initial liquidity commitments to facilitate smooth operations during the early stages of adoption. This enables institutional participants to enter and exit treasury positions more efficiently, removing the delays associated with traditional market hours and financial intermediaries.
Demand for Tokenized Treasuries Grows
Market data shows that the total value locked in tokenized U.S. treasuries has topped $7 billion, with the offerings of Ondo Finance, BlackRock, and Franklin Templeton being the most adopted. The extension to XRPL will enable OUSG to achieve wider distribution while allowing the institutions to transact beyond the traditional banking schedule.
Further, the combination of OUSG introduces a framework allowing permissioned access, capital efficiency, and regulatory compliance. The fact that RLUSD is the stable settlement token enables direct interoperability between the tokenized securities and digital cash equivalents.
This integration aligns with findings from the Ripple–BCG report, which notes that the most meaningful adoption in tokenization currently centers on low-risk, high-liquidity assets. These assets serve as foundational tools for institutions managing global cash flow, collateral, and liquidity strategies.
Onchain Finance in Practice
According to Markus Infanger, Senior Vice President at RippleX, the OUSG rollout will be a milestone in tokenized finance. Institutional use cases are now moving out of theory and into live-market implementation with the availability of high-quality assets on public blockchains.
With institutions still exploring options to replace the legacy settlement systems, the live implementation of OUSG on the XRPL provides a vision of how tokenized finance can simplify operations without sacrificing regulatory compliance.
