JPMorgan Chase & Co., managing $4 trillion in assets, has completed its first transaction on a public blockchain. The transaction, facilitated by Chainlink and Ondo Finance on Ondo's public ledger, involved the settlement of tokenized U.S. Treasuries, specifically Ondo Finance's tokenized U.S. Treasuries Fund (OUSG).
This move was executed through a cross-chain Delivery versus Payment (DvP) settlement on Ondo Chain's testnet, involving Kinexys by J.P. Morgan. It represents a shift from JPMorgan's traditional private blockchain approach to utilizing public blockchains, with Chainlink's technology connecting its private network to Ondo's public ledger.
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