進入2026年，華爾街推動現實世界資產代幣化的腳步明顯加快。

摩根大通向來是積極推動金融資產導入區塊鏈體系的大型銀行之一。旗下區塊鏈部門Kinexys近日攜手萬事達卡、Ripple與Ondo Finance，完成首筆近乎即時、跨境、跨銀行的**代幣化美國國債基金贖回交易**。

本次試點交易，以運行在XRP Ledger上的代幣化短期美國國債基金為標的。Ripple贖回所持部分Ondo Finance短期美國公債基金，萬事達卡網路同步啟動相關美元支付；摩根大通Kinexys則協助資金透過傳統銀行體系完成跨境轉移。

換言之，投資人已可在區塊鏈上交易部分代幣化美債資產，而對應美元結算仍走傳統金融體系。故此模式並非完全去中心化，更趨近傳統金融與區塊鏈基礎設施相結合的混合路徑。

摩根大通表示，本次試點是建置機構級代幣化資產市場架構的重要里程碑，也象徵華爾街正將區塊鏈從概念驗證，推向更落地的金融實務應用場景。

In 2026, Wall Street has significantly accelerated the pace of promoting the tokenization of real-world assets.

JPMorgan has been one of the most active major banks driving financial assets onto the blockchain. Its blockchain division Kinexys recently partnered with Mastercard, Ripple and Ondo Finance to complete the first near real-time, cross-border and cross-bank redemption transaction of tokenized US Treasury bond funds.

The pilot transaction involves a tokenized short-term US Treasury bond fund running on the XRP Ledger. Ripple redeemed part of its holdings in the Ondo Finance short-term US government Treasury bond fund; Mastercard’s network triggered the corresponding USD payment simultaneously, while JPMorgan Kinexys assisted the cross-border capital flow through the traditional banking system.

In other words, investors can now trade certain tokenized US Treasury assets on the blockchain, while the corresponding USD settlement is still processed via traditional financial systems. This model is not fully decentralized; instead, it adopts a hybrid approach combining traditional finance with blockchain infrastructure.

JPMorgan stated that the pilot marks an important step in establishing a framework for institutional-grade tokenized asset markets, and demonstrates that Wall Street is advancing blockchain from conceptual verification to practical financial application scenarios.