Brief
- JP Morgan Chase settled his first transaction on a public blockchain this week.
- The transaction comes approximately six years after the start of the financial titan its decentralized platform, JPM Coin.
- It marks the deepening of JP Morgan in blockchain technology while institutional investors adopt tokenized active assets.
JP Morgan finished his first transaction on a public blockchain – a sign of the deepening of financial power with the web3 world.
On Wednesday, the World Bank paid a transaction involving US Treasury bills on Ondo Finance, using ChainLink to connect between private and public networks, according to a joint declaration of companies.
The experience marks the latest development of the decentralized financial project of JP Morgan called Kinexys – a platform which aims to fill the gap between traditional finance and defi.
“The first transaction … is not only an important step, this is a statement on the future of finance,” Ondo Finance CEO Nathan Allman said on Thursday in a shared press release with Decipher.
JP Morgan and ChainLink did not immediately respond to the request for Decrypt comments.
In a comment for DecipherColin Cunningham, head of tokenization at Chainlink Labs, noted that the transaction of JP Morgan marked “the first time that a large world bank connected its main payment systems to a public blockchain”.
“This is a fundamental step towards a future where active real world as American treasury bills can move transparently through public and private channels,” wrote Cunningham. “What is particularly powerful here is that the JP Morgan’s payment channel is already proven on a large scale and supported by a global institutional user base – which means that it is not only a test, it is a real adoption model.”
JP Morgan’s latest push in Web3 is available while real-active token is gaining ground, especially among institutional investors.
The total locked value of RWAS on blockchains exceeded $ 12 billion from the editorial’s moment, with assets spread over more than 80 decentralized financing platforms, according to DEFI LLAMA data. Meanwhile, the BlackRock Blackrock Institutional Liquidity Fund has nearly $ 3 billion in assets, up approximately 19% in the last month, institutional investors pay funds in treasury vouchers, according to the Rwa.xyz data supplier.
JP Morgan has experienced LEDGER technology for at least 2019, when she made her debut of a private blockchain called JPM Coin.
Later, renamed Kinexys, he treated about $ 2 billion in daily transactions volumes and amassed 1.5 billion of dollars of underlying assets of derivative contracts, JP Morgan said in a statement last year.
The decentralized platform is built on distributed ledding technology, in order to facilitate 24/7 cross-border transactions in real time, while reducing transaction costs for manufacturers and merchants, among other functions.
JP Morgan is one of the many financial institutions that recently increases its involvement in web3. Earlier this month, Citi unveiled a partnership with SDX for Tokenize of the actions of private companies for rich investors.
Updated (May 14, 2025, 2:39 p.m.): Add the quote from Cunningham.
Edited by James Rubin
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