JPMorgan and Mastercard have reduced settlement time for U.S. government bonds to five seconds.

Previously, such transactions using traditional methods took days. Ondo Finance, JPMorgan, and Mastercard jointly utilized the XRP Ledger for the redemption of short-term bonds. Here's how the transaction unfolded: 1) Redemption: Ondo Finance executed a transaction with the tokenized OUSG fund on the XRP Ledger. 2) Settlement: Mastercard initiated an interbank payment through the Kinexys platform (JPMorgan). 3) Final Step: The funds were instantly transferred to Ripple's account in Singapore. This is the first time a public blockchain and traditional banking infrastructure have jointly completed a cross-border settlement in real time. According to RWA.xyz, the market capitalization of tokenized assets is $31.1 billion.