JPMorgan Chase has successfully executed its first public blockchain transaction settlement in a significant milestone. The bank used the cross-chain tech of Chainlink as well as the platform of Ondo Finance in its purchase of tokenized treasury notes.
Payment began with the transfer of funds from two private blockchain accounts and the settlement of the transaction on the public ledger of Ondo. The transaction used JPMorgan’s blockchain unit, Kinexys, that processed the internal fund transfer before connecting with the public blockchain.
Tokenized treasuries are digital counterparts of money market vehicles kept on blockchain networks to ensure transparency and cost efficiency. It is the first time that JPMorgan has connected directly with a public blockchain using an operational settlement framework.
For years, JPMorgan maintained a private blockchain environment that only its institutional clients could access and operate within. Unlike earlier experiments, this public chain transaction represents a tangible application of blockchain interoperability.
The bank worked closely with Chainlink, which allows different blockchain systems to communicate, and with Ondo Finance to complete the process securely.
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Chainlink’s cofounder Sergey Nazarov and Kinexys executive Nelli Zaltsman discussed this integration two years ago at an industry event.
Since then, both parties developed a structure ready for broader implementation in real-world financial systems. This achievement is not a small proof of concept but a significant turning point in blockchain adoption.
JPMorgan’s decision to proceed with this cross-chain connection wasn’t influenced by recent political support for cryptocurrency in the U.S. While President Trump has introduced policies that favor digital assets, JPMorgan had this initiative planned years.
Zaltsman confirmed that the progress was a result of long-term internal strategy rather than external momentum.
As players such as Fidelity, Morgan Stanley, and BlackRock venture into cryptos, JPMorgan’s action represents a serious commitment towards blockchain mainstreaming within traditional financial services.
Nonetheless, this represents a new era for the bank as it strikes a balance between its current financial services and innovation.
