Ondo Finance Launches OUSG Fund on XRP Ledger
- Ondo Finance partners with Ripple to bring OUSG to XRP Ledger.
- Access to tokenized US Treasuries expands for institutional investors.
- Ripple previously introduced OpenEden’s TBILL on XRPL in August.
Ondo Finance, a platform for tokenized real-world assets, is set to introduce its U.S. Treasury token OUSG on Ripple’s enterprise-focused network, XRP Ledger. The partnership between Ondo Finance and Ripple was announced on January 28.
This launch will provide institutional investors with increased accessibility to tokenized US Treasuries. The OUSG, backed by BUIDL, offers 24/7 minting 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
Expanding the Market
Ondo’s expansion of OUSG on XRPL follows Ripple’s move to introduce OpenEden’s TBILL to the network in August 2024. This integration signifies the merging of compliance-first, yield-bearing products with a network tailored for institutional adoption.
Katie Wheeler, vice president of partnerships at Ondo Finance, stated, “This integration sets the groundwork for forward-thinking institutions to lead a new era of capital markets onchain.”
The Growing Market
The collaboration between Ripple and Ondo Finance contributes to the growth of the tokenized US Treasuries market, which now stands at $3.5 billion. OUSG currently boasts a market cap exceeding $185 million.
Additionally, Ondo Finance’s U.S. Dollar Yield product has over $384 million in total value locked. Notable players in the market include BlackRock’s BUIDL and Franklin Templeton’s FOBXX, with market values surpassing $600 million and $509 million, respectively.
OpenEden’s TBILL, available on XRPL, has a market cap of just over $82 million.