JPMorgan Tests Blockchain Settlement on Public Network with Tokenized Treasuries

JPMorgan has quietly taken a step toward public blockchain integration by settling a tokenized U.S. Treasury transaction outside its private infrastructure for the first time.

Using its Kinexys payment network, the bank executed the pilot on Ondo Chain’s testnet in collaboration with Chainlink and Ondo Finance.

The deal used a Delivery versus Payment model, syncing cash and asset movement to minimize settlement risk.

The transaction involved Ondo’s blockchain-based Treasury fund (OUSG) and marked a rare moment of interoperability between JPMorgan’s permissioned system and a public chain.

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Chainlink’s technology handled the cross-network coordination, ensuring real-time settlement across both platforms.

Though JPMorgan has explored blockchain before, this public-facing trial signals a broader shift. Despite political tailwinds and rising crypto enthusiasm, the bank insists this move is part of a longer-term strategy — not a reaction to market sentiment.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.