XRP news

A pilot transaction involving JPMorgan, Mastercard, and Ripple demonstrated a near-real-time cross-border redemption of a tokenized U.S. Treasury fund on the XRP Ledger. Ripple redeemed its Ondo Short-Term U.S. Government Treasuries (OUSG) holdings on XRP Ledger, with the asset leg settling in under five seconds. The fiat payout was routed through Mastercard's Multi-Token Network and settled via JPMorgan's Kinexys platform and correspondent banking network, delivering USD to Ripple's bank account in Singapore. The split between public-chain asset settlement and interbank fiat transfer is a key development, linking tokenized fund redemptions to traditional banking infrastructure without manual intervention. However, the transaction remains a pilot with undisclosed amounts and bank details, and its repeatability for broader institutional use is yet to be proven.

Payward, the parent company of Kraken, has applied for a national trust company charter with the Office of the Comptroller of the Currency, seeking to establish the Payward National Trust Company. The entity aims to offer regulated custody and trust services for digital assets to institutional and individual clients, leveraging Payward's existing infrastructure and compliance programs. This application follows similar moves by Coinbase and Ripple, both of which received conditional approval for national trust charters. Kraken co-CEO Arjun Sethi emphasized the importance of transparent regulation for digital assets. Notably, a banking trade group had considered legal action against the OCC over such charters, arguing the regulator overstepped its authority.

XRP network activity has fallen to multi-year lows, with new daily addresses dropping 85% since December 2024 and active supply down 73%. Analysts attribute the decline to a shift from retail speculation to institutional use as tokenized real-world assets on the XRP Ledger surpass $2.43 billion. Ripple, Ondo Finance, JPMorgan's Kinexys, and Mastercard completed the first real-time cross-border settlement of tokenized Treasuries on a public blockchain. The pilot settled Ondo's OUSG token across banks outside traditional hours, signaling growing institutional adoption.

Ondo Finance, JPMorgan's Kinexys, Mastercard, and Ripple completed the first near-real-time cross-border redemption of a tokenized U.S. Treasury fund on the XRP Ledger. The transaction settled in under five seconds, bypassing traditional banking hours. The process involved Ondo processing the redemption on the XRP Ledger, Mastercard's Multi-Token Network routing instructions to Kinexys, and JPMorgan delivering U.S. dollars to Ripple's Singapore bank account. This integration of public blockchain with interbank settlement rails aims to enable 24/7 global markets. The pilot occurs as DTCC plans its own tokenization service. JPMorgan's Kinexys has processed over $3 trillion in cumulative transactions. XRP and ONDO saw slight declines amid a broader crypto market pullback.

JPMorgan, Mastercard, Ripple, and Ondo Finance completed a pilot settlement of tokenized US Treasury redemptions across borders and banks in near real time. Ripple redeemed Ondo's OUSG tokens on the XRP Ledger, with instructions routed through Mastercard's Multi-Token Network and settled via JPMorgan's Kinexys platform, delivering dollars to Ripple's Singapore bank account. The hybrid model uses blockchain rails for tokenized assets while keeping fiat settlement within regulated banking channels. The firms called it the first such cross-border, near-instant settlement outside conventional banking hours. Tokenized Treasuries have grown to roughly $15 billion, with major institutions like DTCC and Nasdaq also building related infrastructure.

JPMorgan and Mastercard completed the first cross-border, cross-bank redemption of a tokenized US Treasury fund using Ripple's XRP Ledger. The pilot involved Ondo Finance redeeming its OUSG fund for Ripple, with Mastercard's Multi-Token Network routing settlement instructions to JPMorgan's Kinexys platform, which delivered US dollars to Ripple's Singapore bank account. The transaction marks growing collaboration between crypto firms and traditional finance to build faster, lower-cost payment systems operating outside banking hours. Real-world asset tokenization is gaining traction, with over $31.1 billion currently tokenized onchain, though adoption faces regulatory hurdles.

Ondo Finance, JPMorgan's Kinexys, Mastercard, and Ripple completed the first near-real-time cross-border redemption of tokenized U.S. Treasuries on the XRP Ledger, settling in under five seconds. The pilot involved Ondo's OUSG fund and used Mastercard's Multi-Token Network for interoperability between on-chain assets and fiat money. The transaction demonstrates 24/7 settlement outside traditional banking windows. JPMorgan's Kinexys has processed over $3 trillion, and major banks are scaling tokenized deposits. XRP rose 1% to $1.42, down 61% from its all-time high.

JPMorgan, Ripple, Mastercard, and Ondo Finance completed a cross-border transaction of tokenized U.S. Treasurys using the XRP Ledger and traditional banking infrastructure. The pilot involved Ondo redeeming its OUSG fund on the XRP Ledger, followed by Mastercard's multi-token network routing instructions via JPMorgan's Kinexys platform, ultimately delivering USD to Ripple's Singapore bank account. The transaction demonstrates the integration of public blockchain with global banking for real-time settlement of tokenized funds. It follows a similar test a year ago involving JPMorgan, Chainlink, and Ondo. OUSG, launched on XRP Ledger in 2023, now holds $610 million in total value locked and offers a 3.48% APY.

Ripple CEO Brad Garlinghouse warned Tuesday that the CLARITY Act, a digital asset market structure bill, is not a 'done deal' despite a recent compromise on stablecoin yield. Speaking at Consensus, he said the bill's chances of passage 'drop precipitously' if not addressed in the next two weeks, as the 2026 midterm campaigns will make it too politically charged. The CLARITY Act, passed by the House in July 2025, is held up in the Senate over stablecoin, tokenized equities, and ethics issues. Senators Thom Tillis and Angela Alsobrooks announced a compromise on stablecoin yield last week. The bill needs approval from the Senate Banking Committee, where Senator Cynthia Lummis called it 'the priority.' Meanwhile, the SEC and CFTC have already signed a memorandum of understanding to coordinate crypto oversight, with SEC Chair Paul Atkins describing it as 'a beginning, not an end.'

Ripple CEO Brad Garlinghouse warned that the next two weeks are critical for passing broad cryptocurrency legislation in the US, as the Senate Banking Committee faces a pivotal markup. Speaking at Consensus Miami, he said that if the committee fails to hold the markup, the chances of a bill becoming law drop precipitously ahead of the midterm elections. The House passed its version of the legislation last year, but the Senate has faced obstacles, including how to treat stablecoin rewards. A recent compromise between Senators Angela Alsobrooks and Thom Tillis could clear the way, though issues remain over conflicts of interest and illicit finance. Garlinghouse highlighted that while agencies like the SEC and CFTC have moved forward with guidance, legislation would provide permanency that cannot be reversed by a future administration. He noted Ripple's own legal victory, which provided clarity for XRP but not for the broader industry.