JPMorgan Settles First Public Blockchain Transaction With 100% Success

Coin WorldWednesday, May 14, 2025 10:18 am ET
1min read

JPMorgan Chase has made a significant stride in integrating with public blockchain technology, marking a notable shift in its approach to digital transactions. The bank recently settled a transaction on a public blockchain for the first time, leveraging technology from Chainlink and Ondo Finance. This groundbreaking move was announced on Wednesday and involved JPMorgan’s blockchain division, Kinexys, facilitating the transfer of funds between accounts on its private network to settle a purchase of tokenized U.S. Treasuries on Ondo’s public platform.

The transaction, which took place in early May, is described as the first cross-chain, atomic Delivery versus Payment settlement of a tokenized asset on the Ondo Chain testnet. This process connected Kinexys’ permissioned bank settlement infrastructure with the public Layer 1 Ondo Chain through Chainlink’s cross-chain technology. The use of Chainlink’s interoperability protocol was crucial in triggering the payment, enabling seamless communication between JPMorgan’s private system and the public blockchain.

While

has previously explored blockchain applications outside its proprietary network, including a 2024 pilot with Siemens Digital, this latest development represents the bank’s first operational framework to interact directly with public blockchains. This move aligns with a broader trend in the U.S. regulatory climate, where traditional financial firms are increasingly venturing into the crypto space.

This initiative is part of JPMorgan’s long-term strategy, with discussions between Kinexys and Chainlink having begun more than two years ago. The bank’s decision to engage with public blockchain technology underscores its commitment to innovation and its recognition of the potential benefits of decentralized systems.

This development is significant as it demonstrates JPMorgan’s willingness to adapt to the evolving landscape of digital finance. By integrating with public blockchain technology, the bank is positioning itself to leverage the transparency, security, and efficiency that blockchain offers. This move could pave the way for other traditional financial institutions to follow suit, further accelerating the adoption of blockchain technology in the financial sector.