hodler

7 May 2026, 12:41

What are Ripple, Mastercard, Ondo and JPMorgan Planning With XRP Ledger?

Ripple, Mastercard, Ondo Finance and JPMorgan have completed a pilot transaction that used the XRP Ledger and bank payment infrastructure to redeem a tokenized U.S. Treasury fund across borders. The transaction involved Ondo’s Short-Term U.S. Government Treasuries fund, known as OUSG. Ripple redeemed part of its OUSG holdings on the XRP Ledger, while the related U.S. dollar payment was delivered to Ripple’s bank account in Singapore through JPMorgan’s correspondent banking network. The companies said the pilot tested a model for near real-time settlement outside standard banking cut-off times. It combined a public blockchain, tokenized fund redemption, Mastercard’s Multi-Token Network and Kinexys by JPMorgan in one transaction flow. XRP Ledger Processes Tokenized Treasury Redemption Ondo processed Ripple’s OUSG redemption on the XRP Ledger, a public blockchain used for digital asset settlement. The transaction represented the on-chain portion of the redemption process for a tokenized U.S. Treasury product. OUSG gives investors tokenized exposure to short-term U.S. government debt instruments. The product was launched in 2023 and has been issued across several blockchain networks, including Ethereum, Polygon, Solana and the XRP Ledger. After Ondo completed the redemption on the XRP Ledger, Mastercard’s Multi-Token Network routed the payment instruction to Kinexys by JPMorgan. Kinexys then debited Ondo’s Blockchain Deposit Account and supported the dollar transfer to Ripple’s Singapore account. Ripple said the pilot showed that institutions can use blockchain and global banking infrastructure in a single cross-border transaction process. Ondo said the transaction connected tokenized assets with the wider financial system through coordinated settlement. Mastercard and JPMorgan Connect Payment Rails Mastercard’s Multi-Token Network was used to link on-chain activity with fiat payment instructions. The network is designed to support interaction between tokenized assets and traditional financial accounts. JPMorgan participated through Kinexys, its blockchain-based payments and settlement platform. Kinexys supported the bank-side movement of U.S. dollars after the tokenized fund redemption took place on the XRP Ledger. The transaction placed one part of the process on a public blockchain and the other on regulated banking infrastructure. The companies said this approach may reduce reliance on separate manual instructions, wire transfers and limited banking hours for tokenized fund redemptions. The pilot also follows previous tokenization tests involving JPMorgan, Chainlink and Ondo Finance. Those earlier tests examined how tokenized U.S. Treasury funds could move between public and permissioned blockchain networks. Zack Chestnut, global head of commercialisation at Kinexys by JPMorgan, said institutional-scale tokenized markets require cooperation across public blockchains, global banks and payment networks. Mastercard’s Raj Dhamodharan said tokenized commerce is moving toward real-time use through existing bank accounts. Tokenized Treasury Settlement Expands Across Banks The pilot comes as tokenized U.S. Treasuries continue to gain activity in digital asset markets. These products allow investors to hold blockchain-based claims tied to funds backed by short-term government securities. Ondo said OUSG offers a 3.48% APY and has about $610 million in total value locked. The fund is one of several tokenized Treasury products being used by crypto firms, asset managers, and institutional investors. Activity on the XRP Ledger has also grown in real-world assets. Data cited from RWA.xyz showed the total value of tokenized real-world assets on the network above $3 billion, with tokenized U.S. Treasuries on the ledger reported above $418 million. The pilot was described as a near real-time, cross-border, and cross-bank redemption of a tokenized U.S. Treasury fund. It did not announce a full commercial rollout or a date for wider market use. The companies said the same structure could support redemptions from any public blockchain where OUSG is issued. That would allow tokenized funds to remain available across multiple networks while connecting to bank settlement systems. For Ripple, Mastercard, Ondo, and JPMorgan, the pilot tested how tokenized assets can be redeemed and settled with fiat payments across borders. The transaction adds to ongoing work by banks, payment firms, and blockchain companies to build financial market systems that can operate beyond traditional business hours.

7 May 2026, 12:22

Security alert: Ledger users receive scam letters for urgent quantum resistance update

According to new reports, scammers have resorted to physical mail to defraud Ledger wallet hardware users, sending threatening letters that prey on fears of quantum computing. Reports allege that victims have been receiving professionally printed letters from what appears to be Ledger, requesting a Quantum Resistance Security Update for the Ledger device they possess. These letters contain QR code links that are meant to take them to phishing sites where their 24-word seed phrase will be captured. Ledger users fall into quantum threat trap According to reports, several people have reported instances of the scam on X in the past few days. According to reports, the letter mentions the correct model number and order history of the product in line with Ledger’s protocols. Scam reports first came to light in late April 2026, and it was tied to data that could only be obtained from the 2020 data breach . During this time, Ledger suffered a major data leak, and hackers got away with the names, addresses, and phone numbers of thousands of customers. Thanks @Ledger for sending me this letter about the quantum resistance upgrade! Can’t wait to scan the QR code and get rekt pic.twitter.com/QYnqKNhVrB — IrishBitcoinBro ᴳᴹ ☀️ ᴵᴿᴮ 🇮🇪🫡 (@IrishBitcoinBro) May 6, 2026 One such user, “@IrishBitcoinBro,” took a picture of the mail and posted it on May 6, along with some sarcasm toward Ledger and a warning to others about the QR code. The company acknowledged the matter and assured everyone that it had a strict policy: “Ledger will never call, DM, or ask for your 24-word recovery phrase.” The CTO of Ledger, Charles Guillemet, has detailed the practical impacts of post-quantum computing on crypto security, stressing that while ECC is not currently at risk, it is essential to prepare now. As Guillemet outlined, security on blockchain relies extensively on ECC for public and private keys. If quantum computing has advanced enough, the application of Shor’s algorithm would enable cybercriminals to calculate private keys from publicly revealed public keys. Ledger’s CTO urges proactive preparation for quantum computers that could break ECC. Source: X This is because public keys are exposed each time money is transacted, in Bitcoin’s initial outputs, and when addresses are reused. Guillemet emphasized that security in blockchains should not depend on hiding them, ruling out any “wait-and-see” policy. In response to user concerns, Ledger states that it is closely tracking developments and collaborating with the blockchain community to develop quantum-resistant solutions. Ledger guides its customers towards pertinent information on such hacks. However, the team cannot promise an immediate delivery of firmware upgrades through mail. Quantum threat set to affect BTC and ETH as early as 2030 According to a recent study by the quantum security firm Project Eleven , there may be a real vulnerability in cryptocurrencies like Bitcoin and Ethereum before 2030. Researchers have identified the existence of a “cryptographically relevant quantum computer” (CRQC). The finding implies that CRQC is more likely to emerge by 2033 and may even arise as soon as 2030. As reported by Cryptopolitan , the threat lies in Shor’s algorithm, which allows quantum computers to effectively compute the elliptic curve discrete logarithm for ECDSA signatures used by Bitcoin and Ethereum. The recent breakthrough includes a study conducted by Google in March 2026, which significantly reduced resource requirements. According to the study, cracking Bitcoin’s cryptographic security could be possible using about 1,200 logical qubits in less than 90 minutes on superconducting hardware. According to Project Eleven’s study, there is a high risk of exposure: around 6.9 million BTC (roughly one-third of the total) are stored in addresses whose public keys are exposed and thus susceptible to “harvest now, decrypt later” attacks. For Ethereum, more than 65% of ETH tokens are in such addresses. The funds could be irrecoverably lost once decrypted by a quantum computer, since the blockchain system is immutable. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .