"JPMorgan Kinexys, Ondo Finance, and Chainlink Succeed in Cross-Blockchain US Treasury Token Settlement Test"

Global financial firm JPMorgan's subsidiary Kinexys, the on-chain US Treasury project Ondo Finance, and oracle network Chainlink (LINK) announced the successful completion of a settlement experiment for US Treasury tokens connecting public and private blockchains.

According to crypto-specialized media outlet Cointelegraph on the 12th (local time), Chainlink officially stated, "We have completed a cross-chain experiment that processes both US Treasury token (OUSG) and fiat settlements between Kinexys' digital payment network and the OndoChain testnet." The transaction was conducted via Delivery vs. Payment (DvP), where assets and payments are exchanged in real time across different chains.

Chainlink explained that it utilized its own off-chain compute technology, Chainlink Runtime Environment (CRE), for this experiment. CRE automatically coordinates transaction flows, verifies the fulfillment of conditions, and executes settlement commands to ensure safe transfers of assets between the two chains.

Ondo's OUSG is a tokenized asset based on real US Treasuries and was used as a live-traded asset between Kinexys' private payment network and the public OndoChain in this experiment.

Chainlink further explained, "CRE can process various forms of single and multi-chain DvP transactions, which can serve as a foundation for more complex financial activities in the future."