JPMorgan Chase’s blockchain unit Kinexys has, for the first time, helped settle a transaction involving a public blockchain, working with crypto firms Chainlink and Ondo Finance. In early May 2025, Kinexys moved USD deposits between two accounts on its private Kinexys Digital Payments network to pay for tokenized U.S. Treasuries (Ondo’s OUSG fund) recorded on Ondo Chain, a new public Layer 1 focused on real‑world assets. Chainlink’s cross-chain interoperability infrastructure was used as the messaging and orchestration layer so the payment on JPMorgan’s permissioned network and the asset transfer on Ondo’s public testnet could execute as a coordinated, delivery-versus-payment (DvP) settlement. The move is significant because JPMorgan has historically kept its blockchain activity inside a “walled garden” of private, permissioned networks used only by its own clients, and this marks the first time it has built and used infrastructure that directly interfaces with a public chain. According to JPMorgan and the project partners, the test demonstrates a scalable model for atomic settlement between bank-grade payment rails and tokenized assets on public networks, and it is being treated as a step toward production-ready, real-world use. More broadly, the transaction underscores rising institutional interest in connecting traditional finance infrastructure to tokenized real-world asset markets, using public blockchains while retaining compliance and control on the bank side.

AI-generated background, compiled from web sources — not editorial content.

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