Chainlink, Ondo Finance & JPMorgan Successfully Complete First Cross-Chain RWA Settlement AllinCrypto May 14, 2025
Chainlink (LINK), Ondo Finance, and JPMorgan’s Kinexys blockchain solution have successfully completed a cross-chain settlement for real-world tokenized assets.
A cross-chain Delivery versus Payment (DvP) was done via a test transaction utilizing JPMorgan’s Kinexys’s permissioned network for payment settlement, Ondo for holding assets, and Chainlink’s cross-chain solutions.
The feat is the first step to making cross-chain real-world asset solutions a reality with greater compatibility and efficiency.
How Chainlink, JPMorgan & Ondo Finance completed the first cross-chain RWA settlement?
The milestone marks the first test transaction made on the Ondo Chain testnet, which, once it goes mainnet, could be used for more cross-chain trades.
The trade itself utilized the Ondo Chain to hold the tokenized asset, while JPMorgan’s Kinexys was used to handle the payment portion. Chainlink helped to connect the two networks together.
Cross-chain capabilities for real-world assets mean RWAs can be securely settled and traded across multiple networks with ease.
The experiment also acts as an opener for the future capabilities of Ondo Finance’s upcoming blockchain network, built and designed for institutional use cases and real-world asset infrastructures.
The involvement of JPMorgan’s Kinexys marks the first non-private transaction, acting in this case to settle the payment.
From the press release:
DvP transactions are difficult to execute in traditional finance due to fragmented systems and manual workflows, leading to costly settlement delays and increased counterparty risk.
According to the press release, Ondo Chain’s Short-Term U.S. Government Treasuries Fund (OUSG) was used as part of the experiment.
The Delivery versus Payment (DvP) was supported in an end-to-end fashion by the Chainlink Runtime Environment (CRE), described as an offchain environment for blockchain communications.
Chainlink’s CRE was able to facilitate a streamlined settlement path between Kinexys by JPMorgan and Ondo Chain, marking the first of its kind cross-chain RWA settlement.
From Nelli Zaltsman, Head of Platform Settlement Solutions at Kinexys by J.P. Morgan.
“Kinexys Digital Payments is designed to support J.P. Morgan’s institutional clients by enhancing the current payment experience, while also anticipating clients’ evolving payments needs as they engage in transactions on emerging infrastructures, including public blockchain.
Real-world asset tokenization is set to boom in 2025
The tokenization of real-world assets is becoming popular among institutional players, following in the recent explosion of interest in stablecoins.
Stablecoins may relate to real-world assets due to some tokens being a 1:1 representation of an underlying real-world currency.
Stablecoins and real-world asset tokenization allow institutional investors and organizations to create new ways of doing finance via blockchain networks.
Johnny Reinsch, Executive Director of the Tokenized Asset Coalition, recently spoke at the SEC’s Crypto Roundtable, joined by BlackRock & Nasdaq.
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