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JPMorgan, Mastercard Tokenize US Treasury Fund
Description
JPMorgan and Mastercard collaborate with Ondo Finance to execute the first cross-border redemption of a tokenized US Treasury fund using Ripples XRP Ledger, marking a significant step towards faster global payments. The financial sector is abuzz with real-world asset tokenization, with over $31 billion in assets tokenized on chain and predictions of a $2 trillion to $16 trillion market by 2030. The New York Stock Exchanges parent company plans a blockchain platform for 24/7 trading, while the International Monetary Fund warns of potential risks and the need for clear rules. Investors like Kevin OLeary emphasize the importance of US crypto laws matching SEC standards for widespread adoption.
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