JPMorgan‘s JPM blockchain division, Kinexys, on Wednesday announced it has executed its first public transaction involving tokenized U.S. Treasury bonds on the Ondo Chain ONDO/USD, marking a step forward in blockchain-based financial settlement.
WHat Happened: The transaction used Ondo Finance’s tokenized U.S. Treasuries Fund (OUSG) and was settled using Chainlink‘s LINK/USD cross-chain infrastructure.
It represents the first public use of JPMorgan’s Kinexys Digital Payments platform to trade a tokenized asset on a public ledger.
The cross-chain transaction followed a Delivery versus Payment (DvP) model, exchanging the tokenized asset on the Ondo Chain with payment settlement processed on JPMorgan’s Kinexys permissioned blockchain.
Chainlink’s offchain computing system, the Chainlink Runtime Environment (CRE), coordinated the atomic execution between the two networks.
The trade was conducted on the Ondo Chain testnet, a public Layer 1…
