JPMorgan Chase steps beyond ‘walled garden’ to settle transaction on public bloc

JPMorgan Chase settled a transaction on a public blockchain for the first time, using crypto firms Chainlink and Ondo Finance, the bank announced on Wednesday. In early May, its blockchain division Kinexys moved money between two accounts on its private blockchain to pay for tokenized treasuries on Ondo's public ledger, with Chainlink triggering the payment. Kinexys head of platform settlement solutions Nelli Zaltsman told Fortune that the step is part of a roadmap the bank has followed for years and is not a response to political shifts. Chainlink cofounder Sergey Nazarov said the structure is on track for "production."