Ondo Finance, an asset platform from the real world token, is bringing its treasury token from the United States of $ 185 million to the XRP accounting network centered on the company to expand the offer of institutions, companies said on Tuesday.
The Treasury of the United States Government in the short term (OUSG) is backed by the Institutional Digital Liquidity Fund of USD (BUIDL) of Blackrock (Buidl) and allows Menta qualified investors and redeem the tokens throughout the day Nearly instantly using the rlusd stablecoin of the undulation. The deployment will be launched live in the next six months, said Ondo Finance in a blog post.
Both Ripple, the creator of XRP Ledger and Ondo Finance committed seed investments in the Token in the Book Mayor XRP for the initial liquidity. They did not reveal the size of the assignments.
The token of real world assets (RWA) is a rapid growth industry that involves representing traditional financial assets such as bonds, credit and funds in a block chain. Participants do so in search of faster settlements and greater efficiency compared to traditional banking.
The tokenized versions of the US Treasury notes. Uu. They headed the trend, and have quadrupled more than quadruplicate during the past year to become a class of assets of $ 3.5 billion, according to the RWA.XYZ data.
“The IntradÃa 24/7 agreement enabled by tokenized assets such as OUSG marks a transformative change in capital flow management, freeing from traditional negotiation hours and slow settlements,” said Markus Infanger, Senior Vice President of Ripplex, a firm of Development of pounds from Inde XRP, said in a statement.
Ousg follows Opened’s TBill as the second product of the Treasury available at XRP Ledger. Ousg was previously available in Ethereum, Polygon and Solana.
