Ondo Finance (ONDO) announced that it has successfully completed a real-time redemption pilot for US Treasury funds in cooperation with J.P. Morgan Kinexis, Mastercard, and Ripple. This pilot operation proceeded as follows: △Ripple redeemed a portion of Ondo Finance-based US short-term Treasury tokens (OUSG) held on the XRP Ledger (XRPL), which Ondo Finance then processed; and △dollars were deposited into Ripple's bank account via Mastercard's Multi-Token Network and J.P. Morgan Kinexis. Ondo Finance stated, "This pilot operation has laid the foundation for a 24-hour, uninterrupted global market by connecting public blockchains with interbank payment networks."
