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JPMorgan Marks First Treasury Transaction on a Public Blockchain

JPMorgan Chase has for the first time completed a transaction with U.S. Treasuries on a public blockchain, with the help of Chainlink and Ondo Finance.

By Mike Hesp
• 1 min read
JPMorgan Marks First Treasury Transaction on a Public Blockchain

JPMorgan Chase has for the first time completed a transaction with U.S. Treasuries on a public blockchain, using Chainlink and Ondo Finance. That comes from an official press release.

On May 14, a transaction with tokenized U.S. Treasuries was settled via Ondo Finance. Chainlink acted as the bridge between private and public networks.

“This transaction demonstrates a scalable solution for Kinexys Digital Payments’ settlement infrastructure,” the statement said. “It supports the growing real-world assets (RWA) market on public blockchains.”

Nathan Allman, CEO of Ondo Finance, calls it a milestone: “The first transaction on Ondo Chain’s testnet, in collaboration with JPMorgan’s Kinexys and Chainlink, is not just a technical milestone. It also confirms where the future of finance is headed.”

Real-world assets (RWA) are physical or traditional holdings, such as real estate, art, or commodities, that are tokenized and recorded digitally on a blockchain. According to data from DeFi Llama, RWAs now represent more than $12 billion in value on blockchains.

JPMorgan isn’t new to the blockchain world. In 2020, the bank already set up a dedicated unit called Onyx to offer clients blockchain-based services. That initiative now operates under the name Kinexys Liink.

Meanwhile, the market is catching the news: Chainlink (LINK) rose 12% over the past week to $16.45, while ONDO gained 6% and sits around the one-dollar mark.

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