A Milestone: JPMorgan Completes First Treasury Bond Purchase on Blockchain – Two Altcoin Networks Were Used

JPMorgan Chase, the largest bank in the United States, has long been developing its own proprietary blockchain technology and has remained loyal to this “closed loop” system, available only to its customers. However, the bank announced that it has gone beyond this approach and carried out transactions on a public blockchain for the first time. JPMorgan announced today that it has completed a transaction on its public ledger with the support of blockchain firms 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 its private blockchain network. Chainlink, a communications protocol that allows data from the outside world to be integrated into blockchains, was used to initiate the transaction. JPMorgan has previously conducted limited trials with public blockchain systems, such as a concept study with Siemens Digital in 2024. But according to Kinexys platform solutions leader Nelli Zaltsman, this is the first time the bank has built an actual infrastructure to integrate with a public blockchain. “This is not just another conceptual test (POC),” said Chainlink co-founder Sergey Nazarov, adding, “this is the beginning of something big.” Nazarov also noted that this new structure is in the process of being prepared for wider use. *This is not investment advice.