Ripple Confirms ONDO’s OUSG Fund, Backed by BlackRock’s BUIDL, Is Live on XRP Ledger
The XRP Ledger’s push into real-world asset (RWA) tokenization is gaining serious momentum, as the decentralized platform ONDO Finance has now officially launched its tokenized U.S. Treasuries fund, OUSG, on the network. The move, which follows a similar institutional partnership with Guggenheim, solidifies the XRPL’s growing status as a preferred hub for tokenized traditional finance.
According to reports, the latest development will allow institutional investors round-the-clock access to the trusted real-world asset via RLUSD. Hence, the novel technology has created a new frontier in digitized finance.
Ripple the strategic collaboration with ONDO Finance in its latest post on X, highlighting that BlackRock’s BUIDL fund backs ONDO Finance’s OUSG. The fintech company confirmed the development as a new era for on-chain finance, noting that the tokenized asset is mintable and redeemable in RLUSD.
In an official blog post, Ripple further detailed why the XRPL’s native support and enterprise-ready features make it an ideal platform for tokenizing traditional assets like US Treasuries.
The firm cited the XRPL’s built-in decentralized exchange (DEX) and Decentralized Identifiers (DIDs) as crucial elements enabling the platform to provide the compliance-first infrastructure that institutions require.
It is worth noting that the XRPL recently allied with US investment manager Guggenheim, with plans to launch the Guggenheim Treasury Services’ US Treasury-backed asset on the XRPL. Analysts consider the move, in conjunction with the latest XRPL collaboration with ONDO Finance, proof of the innovation’s leadership in tokenization.
Dive Deeper:
XRPL is an open-source, decentralized blockchain platform for financial transactions. It is the underlying infrastructure for XRP and facilitates value exchange between users of various categories. No entity controls XRPL, so anyone can participate and build on the network.
XRP users expect the latest development to boost demand, considering its status being the XRP Ledger’s native cryptocurrency. XRP traded for $2.29 at the time of writing, surging 13% in the past six days breaking above crucial resistance at $2.28.