JPMorgan Chase, in it’s first tokenized U.S Treasuries transaction on the public network purchased tokenized treasuries on Ondo Finance public blockchain to settle assets leg

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Kinexys, which the release says processes an average of over $2 billion in daily transaction volume, handled the payment leg, while Ondo Finance’s tokenized short-term Treasury fund (OUSG) formed the asset leg. Chainlink Runtime Environment — a system for coordinating cross-chain workflows —secured the settlement across the two networks.

In early May, JPMorgan’s blockchain division, Kinexys, transferred money between two accounts on its private blockchain to settle the purchase of tokenized treasuries on Ondo’s public ledger. (Tokenized treasuries are money market funds that live on the blockchain.) To trigger the payment, JPMorgan used Chainlink, a communication protocol that lets blockchains process outside information.