J.P. Morgan 🤝 Chainlink 🤝 Ondo
Today, @jpmorgan announced the successful completion of a cross-chain Delivery versus Payment (DvP) transaction between Kinexys and @OndoFinance, powered by @Chainlink
In this transaction, a tokenized U.S. Treasuries Fund (OUSG) on the public Ondo Chain testnet was exchanged for a payment on J.P. Morgan’s permissioned blockchain platform Kinexys
End-to-end settlement was powered by the Chainlink Runtime Environment (CRE), which orchestrated the DvP transaction workflow between the two blockchains
This transaction was not only the first debut transaction on the Ondo Chain testnet, but marked the first time J.P. Morgan has expanded the Kinexys platform’s settlement capabilities to a public chain
Net result? Chainlink enables a larger pool of buyers to purchase tokenized assets by connecting public chains to the world’s largest financial institutions and their payment settlement infrastructure
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.
This milestone marks the first-of-its-kind cross-chain, atomic settlement of a tokenized asset between Kinexys Digital Payments’ permissioned blockchain network and a layer-1 blockchain network.
Powered end-to-end by the Chainlink Runtime Environment (CRE), the transaction involved the exchange of Ondo Chain’s Short-Term U.S. Government Treasuries Fund (OUSG) as the asset leg with Kinexys Digital Payments’ network serving as the payment leg.
Since inception, the Kinexys platform has exceeded $1.5 trillion in notional value, processing an average of more than $2 billion daily in transaction volume. Payments transactions have grown by 10x year-over-year.
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