Ondo Finance has teamed up with financial services giant JP Morgan and Chainlink to complete the first cross-chain Delivery versus Payment (DvP) test transaction. The transaction is a step forward in the quest to bring bank payment rails to the broader real-world assets market. Ondo, Chainlink team up with JP Morgan For this milestone, Ondo Finance teamed up with Kinexys by JP Morgan, the financial services behemoth’s blockchain business unit. Also powering the test transaction was Chainlink, with the collaboration tapping into the Ondo Chain testnet. Ondo Finance @OndoFinance · Follow 1/ Kinexys by J.P. Morgan ( @jpmorgan ), Ondo Finance, and @chainlink are teaming up to connect bank settlement infrastructure to Ondo Chain.Today, we are excited to announce the debut transaction on Ondo Chain testnet — a cross-chain, atomic DvP settlement of OUSG. Watch on Twitter View replies 7:12 pm · 14 May 2025 2.1K Reply Copy link Read 112 replies Specifically, the public test transaction involved Ondo’s flagship tokenized fund, the Ondo Short-Term US Treasuries Fund (OUSG). It also utilized Kinexys’ digital payments offering and Chainlink’s cross-chain orchestration infrastructure. As a result, crypto has welcomed its first use of Ondo Chain with cross-chain atomic settlement of tokenized asset. “The debut transaction on Ondo Chain’s testnet with both Kinexys by JP Morgan and Chainlink isn’t just a major milestone, it’s a statement about the future of finance. We’re thrilled to collaborate with two of the most influential players in crypto and traditional finance to demonstrate the power of compliant, scalable blockchain infrastructure for real-world assets,” said Nathan Allman, chief executive officer of Ondo Finance. Ondo Finance’s traction in converging TradFi and DeFi The tokenization trend continues to gather momentum with global financial companies and firms getting onto the train. BlackRock, Franklin Templeton, Superstate, Hamilton Lane, and VanEck are some of the issuers with funds tracked on rwa.xyz . Ondo’s layer 1 blockchain is purpose-built for scaling the tokenization of real-world assets. It targets the onboarding of institutional-grade financial markets, a move in the growth of on-chain finance that experts say is only at the beginning of what’s possible. “By securely and thoughtfully connecting our institutional payments solution with both external public and private blockchain infrastructures seamlessly, we can offer our clients and the broader financial ecosystem a wider range of benefits and scalable solutions for settling transactions,” said Nelli Zaltsman, head of platform settlement solutions, Kinexys Digital Payments at Kinexys by JP Morgan. The cross-chain solution powered by Ondo Finance, Chainlink, and Kinexys by JP Morgan illustrates how strong collaborations can help spur web3 growth and adoption, Zaltsman noted. Kinexys’s notional value has surpassed $1.5 trillion since its debut, with an average of over $2 billion in daily transaction volume. Meanwhile, payment transactions have exploded tenfold year-over-year. The post Ondo Finance partners JPMorgan and Chainlink for first cross-chain DvP transaction appeared first on Invezz
