A test carried out by Chainlink, Kinexys by J. P. Morgan, and Ondo Finance demonstrated the potential for blockchain infrastructure to streamline delivery versus payment (DvP) transactions. The trial featured a cross-chain settlement utilizing Kinexys Digital Payments’ permissioned network alongside the Ondo Chain testnet, marking the first operational transaction on the latter. The exchange involved Ondo Finance’s tokenised US Treasuries Fund (OUSG) with Kinexys Digital Payments representing the payment leg. Chainlink’s Runtime Environment (CRE), an offchain coordination platform, managed the process by integrating with Kinexys’ synchronised settlement workflow. This enabled an atomic, simultaneous settlement of both payment and asset across separate blockchains, while ensuring compliance and operational safeguards aligned with institutional standards. Settlement infrastructure extends beyond private chains The initiative also broadened Kinexys’ integrations beyond fully private blockchain systems. Ondo Chain’s testnet, a public Layer 1 blockchain built specifically to support real-world asset tokenisation, served as the asset transfer infrastructure.

The CRE environment orchestrated the complete transaction lifecycle, guaranteeing that all activity across both networks met the security and transparency standards typical in institutional finance. Representatives from Kinexys highlighted that the project reflects ongoing efforts to modernise payments for institutional clients, especially as financial institutions increasingly interact with public and hybrid blockchain systems. They stressed that connecting private payment platforms with blockchain infrastructure can enhance efficiency and expand settlement options for clients. Ondo Finance officials stated the demonstration showcases how scalable blockchain infrastructure can underpin real-world financial products. Similarly, Chainlink representatives viewed the event as part of a broader shift linking decentralized finance capabilities with the operational requirements of traditional financial institutions. DvP transactions, especially cross-border ones, remain challenging to execute in conventional systems due to reliance on disparate, often manual processes. These difficulties have historically caused significant settlement failures and counterparty risks. Chainlink’s infrastructure enabled the simultaneous transfer of assets and payments across blockchains, aiming to mitigate those risks while improving settlement speed and transparency.