Case Study: Settlement of Tokenized U.S. Treasury On-chain with RLUSD

Institutional appetite for tokenized real-world assets is growing, but the buyers are deliberate. Before capital moves, a treasury or risk committee needs to see the operating model satisfy local regulation, that custody duties can sit with a licensed intermediary without surrendering oversight, and that every stage in the lifecycle leaves an audit trail it can stand behind.

This case study documents how one of South Korea's largest domestic life insurers worked with its digital transformation subsidiary to deploy treasury capital into a yield-bearing tokenized money market fund. It covers the three-party operating model, the OTC path from fiat into RLUSD at T+0, how fund units were whitelisted and minted directly into a bank-grade custody perimeter on the XRP Ledger, and the native token controls that restrict holdings to pre-verified, authorized entities. Download the case study to see the full execution lifecycle and what it takes to repeat it.