JPMorgan Completes First Public Trading of Tokenized Securities with Ondo and Chainlink

• JPMorgan tests tokenized securities on public blockchain
• Chainlink Enables Cross-Chain Settlement with CCIP
• Ondo Chain advances in tokenization of real assets

In a landmark move toward integrating traditional finance with public blockchains, JPMorgan Chase has completed its first public trade of tokenized U.S. Treasury bonds. The transaction took place on the Ondo Finance blockchain, powered by Chainlink’s interoperability infrastructure.

The transaction was executed by Kinexys, the bank’s blockchain division, and featured assets issued on Ondo Chain — a layer-1 blockchain launched with a focus on institutional-scale real-world asset (RWA) issuance. Cross-chain settlement was enabled by Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Runtime Environment (CRE).

According to the statement , the transaction was conducted using the Delivery versus Payment (DvP) model, which ensures the simultaneous exchange of the asset and the payment, minimizing counterparty risk. Kinexys Digital Payments was responsible for the payment side of the transaction, operating on a permissioned private blockchain network.

“We are securely connecting our institutional payments solution to public and private blockchains, expanding options for our customers,” said Nelli Zaltsman, head of settlement solutions at Kinexys.

Nathan Allman, CEO of Ondo Finance, stressed that the demonstration proves the viability of issuing, trading and settling real assets entirely on blockchain. Meanwhile, Chainlink co-founder Sergey Nazarov pointed to the initiative as “a clear sign” that banks are moving beyond the testing phase with public blockchains.

“Chainlink is designed to ensure the reliable execution of institutional transactions across different networks, with the compliance required by institutions like JPMorgan,” Nazarov said. He added that institutions see a large market for public blockchains, provided that there are secure technical standards for such integration.

JPMorgan, which has already led tokenization projects with private networks through its Onyx platform, is now moving forward with creating a repeatable and institutional model using decentralized middleware. This move could pave the way for a future hybrid financial structure between public and private networks.