Ondo Finance announced plans to expand its tokenized U.S. Treasuries fund to the XRP Ledger blockchain, in collaboration with Ripple. This move is aimed at strengthening institutional adoption of DeFi products.
A New Step for Ondo Finance
Supported by Founders Fund and Pantera Capital, Ondo Finance stated its intention to launch the OUSG fund on the XRP Ledger blockchain within six months. The company intends to offer an institutional-grade product backed by BlackRock's U.S. Treasuries fund.
Partnership with Ripple
Partnering with Ripple, Ondo Finance aims to provide institutional assets via the XRP blockchain, altering how institutions interact with tokenized assets. The integration of stablecoin RLUSD with OUSG is also planned to ensure interoperability and rapid redemption.
Growing Market for Tokenized Assets
The market for tokenized real-world assets has grown significantly over the past year, and Ondo's products contribute to a market valued at over $3.5 billion. Achievements on the XRP Ledger have been bolstered by Ripple's recent initiatives, including a collaboration with the OpenEden platform.
Ondo Finance's plans to expand its U.S. Treasuries fund on XRP Ledger in partnership with Ripple reflect efforts to develop institutional DeFi solutions. This move could significantly boost tokenized asset adoption.
