The largest bank in the United States is to extend its foray into digital assets and have now set blockchain transactions outside its owner networks.
Jpmorgan Chase announced that he had set his first transaction on a large public book using Oracle Service Chainlink (Link) and the platform focused on the tokenization Ondo Finance (Ondo), reports Fortune.
The transactions mark the first time that JPMorgan has ventured beyond its private blockchain technology, which it previously developed exclusively for the use of the customer.
Said the co-founder of Chainlink, Sergey Nazarov,
“It’s not just another POC (proof of concept) … It’s the beginning of something big.”
Nelli Zaltsman, head of the Jpmorgan Blockchain division, called Kinexys, said that the transition to public networks is something that has been doing for years, telling Fortune that she met Nazarov de Chainlink at a conference two years ago and has been in conversation since.
Kinexys, who renamed Onyx at the end of last year, is supposed to allow “leading companies, financial institutions and fintechs (to) rationalize the movement of money, improve asset settlement times, release liquidity and create new income opportunities”, explains the bank.
According to an announcement in November 2024, Kinexys had treated 1.5 billion of dollars in volume of transactions since its creation and had experienced more than 10 times the growth in payment transactions.
At the time of writing, Link and Ondo are up 24% and 21% over the week, respectively.
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