TLDR
- JPMorgan Settles First Tokenized Treasuries on Public Blockchain via Chainlink and Ondo.
- JPMorgan Moves DeFi-Forward with Public Blockchain Treasury Settlement.
- Chainlink, Ondo Power JPMorgan’s First Cross-Chain Treasury Trade.
- JPMorgan Embraces Public Chains with Tokenized U.S. Treasuries Deal.
- JPMorgan’s Blockchain Shift: Public Settlement with Chainlink and Ondo.
JPMorgan Chase & Co. (JPM) shares showed a steady upward trend in the morning, peaking just before 1:00 PM EDT. Despite a slight pullback, it remains up 0.67% at $264.77, indicating investor optimism in the trading day.
JPMorgan completed its first blockchain transaction involving a public network, marking a step in decentralized finance. The transaction used Chainlink and Ondo Finance to settle a tokenized U.S. Treasury deal across public and private blockchains. This event signals JPMorgan’s shift toward more scalable, secure blockchain-based settlement systems beyond its private infrastructure.
Ondo Finance Provides Tokenized Treasuries for Cross-Chain Settlement
Ondo Finance played a key role in the deal by issuing tokenized U.S. Treasuries on its new Layer 1 blockchain. The transaction used the Ondo Short-Term U.S. Government Treasuries Fund (OUSG) as the asset leg. Ondo Chain, built for real-world asset tokenization, supported the deal with institutional-grade architecture.
This debut testnet transaction on Ondo Chain confirms its readiness for larger-scale, compliant financial operations. By enabling this trade, Ondo demonstrated the chain’s potential to handle tokenized assets with high transparency. The fund’s on-chain representation improves liquidity and allows near real-time settlement.
Ondo Finance supports broader access to government debt through tokenization, which aligns with global interest in real-world asset blockchain use. Their infrastructure supports compliance and openness, attracting major players like JPMorgan. The use of OUSG in this test validates the practicality of tokenized treasuries in modern finance.
Chainlink Enables Secure Cross-Chain DvP Execution
Chainlink provided the critical infrastructure to connect JPMorgan’s private and Ondo’s public blockchain. The Chainlink Cross-Chain Interoperability Protocol (CCIP) enabled atomic settlement across the two platforms. Its Runtime Environment (CRE) orchestrated the asset and payment movement to ensure simultaneous delivery.
We’re excited to announce the successful completion of a cross-chain Delivery versus Payment (DvP) transaction in collaboration with Kinexys by J.P. Morgan (@jpmorgan) and @OndoFinance.https://t.co/W2IC8NeO18
This milestone marks the first-of-its-kind cross-chain, atomic… pic.twitter.com/0J1tA3AYWk
— Chainlink (@chainlink) May 14, 2025
This infrastructure reduced settlement risk and removed intermediaries through secure, automated processes. The settlement’s atomic nature eliminated the traditional lag between payment and asset delivery. Chainlink’s framework allowed the transaction to comply with institutional standards while improving operational efficiency.
Using Chainlink, JPMorgan secured a trusted bridge between permissioned and public chains. This interoperability enables real-time visibility and accurate, immutable transaction records. As a result, JPMorgan can now pursue broader use cases in tokenized asset markets with confidence.
JPMorgan Expands Blockchain Reach with Kinexys Digital Payments
JPMorgan executed the payment leg through Kinexys Digital Payments, its internal blockchain network. The firm integrated Chainlink’s systems with its synchronized settlement workflows to complete the transaction seamlessly. Kinexys’ infrastructure processed the digital payment within its permissioned environment.
This marks the first time JPMorgan settled a trade involving tokenized treasuries on a public blockchain. Previously, JPMorgan’s blockchain use centered on internal or fully private networks such as Onyx and JPM Coin. The firm’s move into public blockchain use reflects a strategic change toward broader interoperability.
JPMorgan has processed over $1.5 trillion through Kinexys, with daily volumes averaging $2 billion. The expansion into public blockchain demonstrates a commitment to innovation and scalable infrastructure. JPMorgan aims to reduce settlement delays and increase efficiency across public and private systems.
