JP Morgan unit joins forces with Ondo, Chainlink to execute landmark settlement

Anand Sinha

Wed, May 14, 2025, 12:01 PM 1 min read

Kinexys by JP Morgan, the Wall Street giant's blockchain concern unit, has partnered with Chainlink and Ondo Finance to successfully execute the archetypal cross-chain, atomic Delivery versus Payment (DvP) trial transaction connected May 14.

While Chainlink is the standard for on-chain finance, Ondo Finance is simply a salient level for real-world plus (RWA) tokenization.

The debut transaction progressive the Ondo Short-Term U.S. Treasuries Fund (OUSG), Ondo's tokenized plus offering exposure to short-term US Treasuries. It utilized the permissioned Kinexys Digital Payments web successful tandem with Chainlink’s cross-chain orchestration infrastructure.

Ondo Chain, the recently launched layer-1 testnet built particularly to standard RWA tokenization, besides facilitated its debut transaction with this step.

DVP is simply a colony method successful the securities marketplace that guarantees the transportation of securities lone happens aft outgo has been made.

It is estimated that outgo and colony failures person outgo marketplace participants astatine slightest $914 billion, arsenic per the statement.

Leveraging blockchain exertion tin assistance facilitate the simultaneous on-chain speech of assets and payments crossed parties and reduce counterparty and colony risks.

"The demonstrated cross-chain solution is simply a testament to what tin beryllium achieved done beardown collaboration crossed divers segments of the Web3 ecosystem, and we are pleased to person worked with Ondo and Chainlink to bring this to beingness arsenic the archetypal transaction connected Ondo Chain testnet," Kinexys' head of level colony solutions, Nelli Zaltsman, said.

"The debut transaction connected Ondo Chain's testnet with some Kinexys by J.P. Morgan and Chainlink isn't conscionable a large milestone, it's a connection astir the aboriginal of finance," Ondo Finance CEO Nathan Allman said.