RWA-focused DeFi platform Ondo Finance has deployed its flagship product, OUSG, on the XRP Ledger

With this move, Ondo – which has a total value locked (TVL) of $1.3 billion – aims to bring OUSG to XRPL’s institutional user base. By Markus Infanger.

Decentralized finance (DeFi) platform Ondo Finance has deployed its flagship product, Ondo Short-Term U.S. Government Treasuries (OUSG), on the XRP Ledger (XRPL).

The move will see Ondo – which has a total value locked (TVL) of $1.3 billion – bring OUSG to XRPL’s institutional user base. Users will gain around-the-clock access to short-term Treasuries on XRPL, a Layer 1 (L1) blockchain, utilizing Ripple’s stablecoin, RLUSD.

OUSG currently has a market capitalization of $629 million, up 27% over the past month, according to RWA.xyz. Meanwhile, RLUSD boasts a market capitalization of $389 million.

“Ondo’s OUSG going live on the XRPL demonstrates that tokenized finance is no longer theoretical, it’s maturing in real markets,” said Markus Infanger, the SVP of RippleX.

“Institutions can now access high-quality assets like U.S. Treasuries on public blockchains, with the compliance and efficiency they need.”

This, he added, brings trusted financial assets into a 24/7 market, enabling “greater liquidity, operational efficiency, and faster access to capital.”

The move also comes as the tokenized real-world assets (RWAs) market recently surpassed $23 billion in on-chain value, a 3% increase from last month, according to RWA.xyz.

Tokenized Treasuries account for over $7 billion of that figure. Leading the pack is BlackRock’s BUIDL tokenized Treasury fund, which boasts a market capitalization of nearly $2.9 billion.

Earlier this year, Ondo Finance unveiled several new initiatives, including Ondo Chain, the protocol’s own Layer 1 blockchain.

The platform’s ONDO token is up 4% in the past week but down 17% in the last 30 days.

Meanwhile, Ripple’s XRP is down 4% over the past month.