JPMorgan Uses Ondo for First Public Blockchain Transaction, settling tokenized U.S. Treasury bonds via Ondo Finance and Chainlink. This marks a milestone for traditional finance in crypto. This article covers JPMorgan’s blockchain transaction milestone, Ondo and Chainlink’s role, and the tokenized bonds market trend.
JPMorgan’s Blockchain Transaction Milestone
JPMorgan Uses Ondo for First Public Blockchain Transaction, as reported by Fortune on May 14, 2025. The bank settled tokenized U.S. Treasury bonds through Ondo Finance’s network, leveraging Chainlink’s protocol for external data processing. Historically, JPMorgan operated within its private Kinexys blockchain (formerly Onyx), accessible only to clients. This early May transaction marks its first use of a public blockchain, integrating Kinexys with Ondo’s network—a step long planned in JPMorgan’s roadmap, per Kinexys’ Nelly Zaltsman.
Ondo and Chainlink’s Role in the Deal
Ondo and Chainlink’s role was pivotal. Ondo facilitated the tokenized bond settlement, while Chainlink enabled Kinexys to interact with external data on the public blockchain. Discussions between Zaltsman and Chainlink co-founder Sergey Nazarov began two years ago, culminating in a system nearing “production” readiness for broader use. Post-announcement, Ondo’s token (ONDO) surged 8% in 30 minutes, from $1.01 to $1.09, per CoinMarketCap. Chainlink’s token (LINK) remained stable at $17 as of 17:20 MSK.
Tokenized Bonds Market Trend Grows
The tokenized bonds market trend is gaining traction among traditional finance giants. Fidelity and Bank of America plan to launch stablecoins, Morgan Stanley explores crypto trading, and BlackRock expands its BUILD tokenized treasury product. Meanwhile, Deutsche Bank and Standard Chartered are studying crypto expansion in the U.S. On the crypto side, firms like Coinbase, Circle, Paxos, and BitGo are targeting banking services. JPMorgan Uses Ondo for First Public Blockchain Transaction, signaling deeper integration between traditional finance and crypto markets.
