JPMorgan’s First Transaction on public blockchain via Ondo finance

By: cryptosheadlines|2025/05/15 16:15:06
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com JPMorgan Chase has completed its first-ever transaction on a public blockchain, underscoring the banking giant’s growing commitment to Web3 and decentralized finance (DeFi).The transaction, conducted on Wednesday, involved tokenized U.S. Treasuries via Ondo Finance and used Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to bridge private and public blockchain networks, according to a joint statement. The milestone forms part of JPMorgan’s broader Kinexys initiative, a decentralized finance platform designed to integrate traditional finance with blockchain infrastructure.JPMorgan’s move marks the first instance of a major global bank linking its core payment systems to a public blockchain. Given JPMorgan’s globally scaled payments infrastructure, this sets a strong precedent for the future of blockchain-powered finance.The initiative comes amid growing institutional interest in tokenized real-world assets. According to DeFi Llama, over $12 billion in RWAs are currently locked across more than 80 DeFi platforms. BlackRock’s USD Institutional Digital Liquidity Fund alone holds nearly $3 billion, up 19% over the past month, according to rwa.xyz.JPMorgan’s foray into blockchain technology began in 2019 with the launch of its private blockchain, JPM Coin—later rebranded as Kinexys. Today, Kinexys handles about $2 billion in daily transactions and manages around $1.5 trillion in derivatives contracts.The platform is designed to enable near real-time, around-the-clock cross-border settlements while reducing costs for financial institutions and developers.JPMorgan is one of several major banks entering the Web3 space. Earlier this month, Citi announced a partnership with SDX to tokenize shares of private companies for high-net-worth investors.Source link

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