Gains as Ripple and Ondo Pilot advance token treasury settlement

TLDR

• JPM Stock Gains as Ripple and Ondo Test Treasury Token Settlement

• JPMorgan’s Kinexys connects the XRP Ledger to bank payment rails

• Ripple and Ondo beta shows faster tokenized treasury settlement flow

• Mastercard routes treasury instructions through JPMorgan Kinexys

• Ondo’s OUSG redemption connects the XRP Ledger with JPMorgan’s banking rails

JPMorgan Chase (JPM) stock rose as a new Treasury Department pilot program linked Wall Street settlement rails with the XRP Ledger. The move demonstrated how banks and blockchain companies can process cross-border transactions in a single flow. JPM traded at $315.57, up $6.17, or 1.99%, after flat gains in the session.

JPMorgan Chase & Co., JPM

JPM shares rise after token settlement trial

JP MorganRipple, Mastercard and Ondo Finance have completed a pilot involving tokenized US Treasuries and bank payment bars. The transaction used blockchain settlement and interbank infrastructure to move value across borders. The test has added new interest to JPMorgan’s digital asset strategy.

JPMorgan’s Kinexys platform played a central role in routing transactions and the payment settlement process. Mastercard’s Multi-Token network routed the instructions through Kinexys after Ondo processed the refund. JPMorgan then delivered the US dollars to Ripple’s bank account in Singapore.

The pilot came as JPMorgan expands its blockchain-based payments business through Kinexys. The platform focuses on bank-level settlement, token deposits, and institutional payment services. Furthermore, the deal demonstrated how public and private systems can connect without replacing banking rails.

Ripple and Ondo link XRP Ledger to treasury tokens

Ondo Finance initiated the process by handling Ripple’s OUSG redemption on the XRP Ledger. OUSG represents a US Treasury token product designed to directly access short-term government debt. The pilot then placed tokenized Treasuries within the cross-border banking workflow.

ripple XRP supports Ledger as a public payment network for fast settlement. In this case, the ledger held the redemption on-chain before settlement followed on the bank side. Furthermore, the structure linked tokenized fund activity to regulated financial payment systems.

Ondo launched OUSG in 2023 and later expanded the product across multiple blockchains. The fund has already appeared on Ethereum, Polygon, and Solana before arriving on the XRP Ledger. Thus, the latest pilot built on previous work between Ondo, JPMorgan, and other blockchain companies.

The background shows the Wall Street coding push

JPMorgan, Chainlink, and Ondo all tested treasury token settlement about a year before this new deal. This previous test transferred token fund data across public and permissioned blockchain networks. However, the pilot added the latter MasterCard And Ripple is on a broader settlement chain.

Token vaults have gained attention because they bring government debt products onto blockchain networks. These products can support faster transfers, clearer ownership records, and broader market access. Additionally, banks can use tokenization while maintaining compliance and payment controls.

For JPMorgan shares, beta supported the bank’s broader digital financial narrative during the session. JPM stock rose 1.99% as the stock price remained near its intraday high. Overall, this deal represents another step towards faster settlement of token assets across global financial rails.