Chainlink, J.P. Morgan & Ondo Complete Cross-Chain DvP Settlement

Chainlink, Kinexys by J.P. Morgan, and Ondo Finance have completed a landmark cross-chain Delivery versus Payment (DvP) transaction, showcasing the power of secure blockchain infrastructure to enable atomic settlement of tokenized real-world assets. This collaboration underscores the accelerating convergence of traditional and decentralized finance.

Highlights:

1. Seamless Cross-Chain Atomic Settlement

• The DvP transaction combined Kinexys Digital Payments’ permissioned blockchain network and Ondo Chain’s next-gen Layer 1 for tokenized real-world assets.
• Chainlink’s Cross-Chain Interoperability Protocol and Runtime Environment (CRE) provided end-to-end orchestration.
• Marked the debut transaction on the Ondo Chain testnet.

2. Institutional-Grade Infrastructure Integration

• Ondo’s tokenized U.S. Treasuries Fund (OUSG) served as the asset leg.
• Kinexys, J.P. Morgan’s blockchain business unit, handled the payment leg via blockchain deposit accounts.
• CRE enabled synchronized settlement workflows while maintaining compliance and security.

3. Strategic Collaborations in TradFi and DeFi

• The project reflects strong collaboration between a top global bank, a leading DeFi protocol, and a blockchain infrastructure provider.
• Institutions now have a reliable model to settle assets and payments across chains securely and transparently.

4. Real-World Financial Impact

• Traditional DvP transactions are plagued by inefficiencies—estimated to have cost over $914B due to failures and delays.
• The blockchain-based DvP model enhances liquidity management, reduces settlement risk, and cuts intermediary costs.

5. The Kinexys Platform’s Growing Reach

• The Kinexys platform has processed over $1.5 trillion in notional value to date.
• It averages more than $2 billion daily in transaction volume with 10x YoY payment transaction growth.

Leadership Commentary:

Nelli Zaltsman, Kinexys by J.P. Morgan:
“This demonstrated cross-chain solution is a testament to what can be achieved through strong collaboration across diverse segments of the Web3 ecosystem.”

Sergey Nazarov, Chainlink Co-Founder:
“This collaboration is a clear sign of the TradFi and DeFi convergence we’ve long anticipated. Chainlink is built for institutional-grade, compliant, cross-chain transactions like this.”

Nathan Allman, CEO of Ondo Finance:
“This is more than a milestone it’s a statement about the future of finance built on scalable, compliant blockchain infrastructure.”

This successful cross-chain DvP transaction between Kinexys, Chainlink, and Ondo Finance paves the way for scalable, secure, and compliant settlement of tokenized assets. It signals a transformative shift in how institutions can operate across public and private blockchains, bridging traditional finance with the future of digital assets.