Nelli Zaltsman, head of settlement solutions at Kinexys, said the initiative reflects JPMorgan’s evolving support for institutional clients as they engage with new digital infrastructures.
The executive added:
“By securely and thoughtfully connecting our institutional payments solution with both external public and private blockchain infrastructures seamlessly, we can offer our clients and the broader financial ecosystem a wider range of benefits and scalable solutions for settling transactions.”
The landmark test transaction occurred on the testnet of Ondo Chain, a blockchain purpose-built by Ondo for real-world asset tokenization. It used a Delivery versus Payment (DvP) model, which allows simultaneous transfers of assets and payments to reduce settlement risk.
Traditional DvP transactions can often face delays due to fragmented systems and manual processes associated with legacy systems. Industry estimates show that these inefficiencies have cost market participants over $900 billion in the past decade.
The complexity multiplies in cross-border transactions, where varying regulations, currencies, and jurisdictions introduce further friction.
Using blockchain rails, Kinexys and its partners demonstrated a real-time settlement process that reduces manual intervention, reduces counterparty risk, and improves liquidity. Chainlink provided the messaging framework that synchronized actions across both blockchain networks.
Kinexys relied on blockchain-based deposit accounts to complete the payment side of the trade, while Chainlink ensured data consistency across the permissioned and public chains. This reduced operational friction and delivered finality within seconds.
