A Turning Point: JPMorgan Completes Its First Treasury Bond Purchase on the Blockchain! It Utilized Two Altcoin Networks!

The largest bank in the United States, JPMorgan Chase, has been developing its own private blockchain technology for a long time and has remained committed to this "closed-loop" system, which is only available to its clients.

However, the bank announced that it has carried out transactions for the first time on a publicly available blockchain.

JPMorgan announced today that it has completed a transaction on a public ledger with the support of blockchain companies Chainlink and Ondo Finance. In early May, JPMorgan's blockchain subsidiary Kinexys completed the purchase of tokenized treasury bonds on Ondo's public ledger by transferring funds between two accounts on a private blockchain network. To initiate this transaction, the communication protocol Chainlink, which enables the integration of external data into blockchains, was used.

JPMorgan had previously conducted limited trials with public blockchain systems. For example, in 2024, a conceptual study was carried out with Siemens Digital. However, according to Kinexys platform solution leader Nelli Zaltsman, this transaction is the first example where the bank has built a real infrastructure integrated with a public blockchain. "This is not just another conceptual trial (POC)," said Chainlink co-founder Sergey Nazarov, "this is the beginning of something big."

Nazarov also stated that this new structure is in the process of being prepared for more widespread use.