JPMorgan’s Kinexys Connects With Public Blockchain on Ondo Chain Testnet Debut

Description

JPMorgan (JPM) took its first step onto a public blockchain network through its Kinexys Digital Payments platform, settling a tokenized U.S. Treasury transaction on Ondo Chain’s testnet.

Authors

Francisco Rodrigues

Sheldon Reback

Publish date

May 14, 2025

Publisher

CoinDesk

Web URL

https://www.coindesk.com/business/2025/05/14/jpmorgans-kinexys-connects-with-public-blockchain-on-ondo-chain-testnet-debut?.tsrc=rss

Referenced by

JPMorgan settles its first transaction on a public blockchain

Crypto news

News story

The move signals a shift as the bank explores ways to extend its institutional payments infrastructure into the growing market for real-world asset tokenization.

Crypto news

Quote

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.

Crypto news

Quote