XRP Ledger Hosts J.P. Morgan Transaction as Analyst Says, ‘The Switch Was Flipped. And They Didn’t Tell You’
A popular crypto researcher known as Mr Pool recently stirred up new XRP (XRP-USD) excitement online. He told his followers, “THE SWITCH WAS FLIPPED. AND THEY DIDN’T TELL YOU,” referring to a major banking move. The researcher stated that J.P. Morgan (JPM) completed a secret live transaction on the XRP Ledger on June 11, connecting with Ondo Finance (ONDO-USD) and Mastercard (MA) through the ISO 20022 protocol.
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While the excitement makes complete sense given the massive names involved, public data shows that this historic financial test happened weeks earlier with plenty of open news coverage. Mr Pool’s aim was to highlight that few people had realized the significance of this event.
Financial Giants Test New Digital Systems
The actual event took place in early May. Four massive global finance companies worked together to test a new way to move money across borders. Ondo Finance, J.P. Morgan, Mastercard, and Ripple completed a near real-time transfer of a tokenized United States Treasury fund.
As part of the test, Ripple redeemed a portion of its holdings on the public ledger in under five seconds. After that, Ondo sent a payout instruction through the Multi-Token Network created by Mastercard. Finally, J.P. Morgan delivered regular dollar funds directly to a bank account in Singapore.
Public Press Releases Share Market News
Mr Pool claimed this major event was hidden in a technical filing at 4:47 AM Eastern. Public news outlets actually reported the exact details openly on May 6 and May 7. The companies sent out clear press releases to share their success with the entire market.
They wanted people to know how they connected public blockchain tools with standard interbank settlement systems. Moreover, the companies openly shared this information, which means the event was completely public from the start.
Technology Teams Build Faster Global Markets
The successful test proves that tokenized assets can move fast between different countries outside of normal banking hours. Representatives from Ondo Finance stated that this group of companies is setting the foundation for global markets that operate all day and all night.
Ultimately, the social media post got the exact dates and the secrecy level wrong. However, the core message about major banks using the XRP Ledger remains completely true.
At the time of writing, XRP’s price is sitting at $1.1776.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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