Hold onto your hats, folks! The XRP Ledger (XRPL) is gearing up for a grand entrance as it rolls out the red carpet for a snazzy tokenized version of short-term US treasuries, courtesy of the fine folks at Ondo Finance. Yes, you read that right! 🤑
So, what’s the deal? Investors can now get in on the action and redeem Ondo Finance’s shiny OUSG token — all thanks to Ripple’s own sprightly RLUSD stablecoin. Talk about a match made in financial heaven! 💰
This little announcement follows Ripple’s adventurous $10 million plunge into the world of tokenized T-bills through OpenEden last year. Clearly, they were just warming up. They’ve decided to double down and provide some initial liquidity for OUSG on the XRP Ledger. Hope they wore their floaties! 😂
Now, let’s take a trip back in time: Ondo Finance first unleashed their tokenized Treasury offering in early 2023. Yes, you might want to mark that date on your calendar – or not, I don’t judge! 🗓️
At this point, most of the OUSG portfolio is snuggly backed by none other than the BlackRock USD Institutional Digital Liquidity Fund (affectionately named BUIDL). I can just imagine the team at BlackRock having a brainstorming session and someone suggesting “Let’s make that into an acronym!”
The BUIDL fund, which is based on short-term bonds because why not? – was launched in March in collaboration with the token whizzes at Securitize. Last November, BlackRock decided they’d had enough of Ethereum and jumped over to other blockchains like they were on a wild west adventure. Yeehaw! 🤠
And here’s the cherry on the cake: the OUSG token currently boasts a cool $184.08 million in total value locked (TVL). That’s not chump change! 💸
If you’re itching to dabble, the token is already living its best life on Ethereum, Polygon, and Solana. The XRPL integration, meanwhile, is like that promised vacation – expected to occur sometime in the next six months. Just don’t forget your sunblock! 🌞
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2025-01-28 17:50