The largest bank in the United States is broadening its involvement with digital assets by reportedly settling blockchain transactions beyond its own proprietary networks. JPMorgan Chase has revealed that it completed its first transaction on a public ledger using the oracle service Chainlink (LINK) and the tokenization-focused platform Ondo Finance (ONDO), according to Fortune. These transactions represent JPMorgan’s initial step outside the realm of its private blockchain technology, which had previously been developed solely for customer use. Chainlink co-founder Sergey Nazarov remarked, “This is not just another POC (proof of concept)…This is the beginning of something big. ” Nelli Zaltsman, who leads JPMorgan’s blockchain unit Kinexys, shared that the move into public blockchain networks has been years in the making.

She told Fortune that she met Nazarov at a conference two years ago and has maintained ongoing discussions since then. Kinexys, formerly known as Onyx until it rebranded late last year, aims to enable “leading corporations, financial institutions, and fintech companies to streamline money movement, enhance asset settlement times, unlock liquidity, and create new revenue opportunities, ” according to the bank. A November 2024 announcement reported that Kinexys had processed $1. 5 trillion in transaction volume since its founding and had seen a more than 10-fold increase in payments transactions. As of this writing, LINK and ONDO tokens are up 24% and 21% over the past week, respectively. Follow us on X, Facebook, and Telegram. Don’t Miss a Beat – Subscribe for email alerts delivered directly to your inbox. Check Price Action Surf The Daily Hodl Mix Generated Image: DALLE3