- Ondo Finance will launch the OUSG fund on the XRP Ledger.
- Through a partnership with Ripple, institutional investors will gain easier access to a tokenized U.S. Treasury fund.
- Ripple introduced OpenEden’s TBILL on the XRPL in August last year.
Ondo Finance, a platform for tokenized real-world assets, plans to bring its U.S. Treasury token OUSG to Ripple’s enterprise-grade network, the XRP Ledger. Ondo Finance and Ripple announced the integration on Tuesday, January 28. The launch expands institutional access to tokenized U.S. Treasuries and enables the Ondo Short Duration U.S. Government Treasury fund (OUSG), supported by BUIDL, to offer 24/7 issuance and redemption through Ripple’s stablecoin RLUSD.
Ripple and @OndoFinance are bringing OUSG, tokenized U.S. Treasuries to the XRP Ledger.
With 24/7 minting & redemption using RLUSD, unmatched liquidity, and institutional-grade security, learn how this partnership marks a major step forward for onchain RWAs.… pic.twitter.com/0T3mXGSxbW
— RippleX (@RippleXDev) January 28, 2025
Ondo’s rollout of OUSG on the XRPL follows Ripple’s broader push into tokenized real-world assets (RWAs), which included the launch of OpenEden’s TBILL on the network in August 2024. “This integration represents a natural fusion between compliance-first yield products and a network designed for institutional adoption, building the foundation for forward-thinking institutions to lead a new era of on-chain capital markets,” said Katie Wheeler, Vice President of Partnerships at Ondo Finance.
Market of $3.5 Billion
The collaboration between Ripple and Ondo Finance is expected to accelerate growth in RWAs, particularly the market for tokenized U.S. Treasuries. That sector has seen rapid expansion over the past year and now sits at roughly $3.5 billion in total market size. Ondo Finance’s OUSG currently has a market capitalization exceeding $185 million. Another U.S. Treasury product on the platform, US Dollar Yield, has more than $384 million in assets locked.
According to rwa.xyz, BlackRock’s BUIDL and Franklin Templeton’s FOBXX are the largest offerings in the space, with approximately $600 million and $590 million respectively. OpenEden’s TBILL on the XRPL has a market cap slightly above $82 million.