$4 Trillion JPMorgan Settles Tokenized U.S. Treasuries Using Chainlink, Ondo in First Public Blockchain Transaction

JPMorgan Chase, a $4 trillion asset manager, has executed its first public blockchain transaction, settling a tokenized U.S. Treasuries trade using Ondo Finance's OUSG fund and Chainlink technology. The transaction, an atomic DvP settlement, marks the debut on Ondo Chain's testnet and signifies a shift from JPMorgan's usual private-chain approach to integrating its Kinexys Digital Payments network with the public Ondo Chain through Chainlink's Cross-Chain Interoperability Protocol (CCIP).This move represents JPMorgan's first step into settling transactions on a public blockchain, following years of development in its own blockchain technology, which has been primarily focused on private networks.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io