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J.P. Morgan Kinexys Digital Payments Expands to Public Chain
- J.P. Morgan's Kinexys Digital Payments expands to public chain with the first-of-its-kind Delivery versus Payment solution on Ondo Chain's testnet.
- The successful settlement of Ondo Finance's Tokenized Fund with J.P. Morgan's Kinexys Digital Payments network on the Ondo Chain network utilized Chainlink for secure cross-chain orchestration.
- This transaction showcases a scalable solution for Kinexys Digital Payments settlement rails to support the Real-World Asset market across public blockchains.
- The cross-chain DvP test transaction involved Chainlink, Kinexys by J.P. Morgan, and Ondo Finance, demonstrating a scalable approach to atomic settlement between networks.
- The transaction leveraged blockchain deposit accounts, Ondo Chain's Layer 1 blockchain, and Chainlink's cross-chain infrastructure for seamless settlement.
- Kinexys Digital Payments' integration with the Chainlink Runtime Environment facilitated secure, compliant, and scalable settlement between networks.
- Collaboration between Kinexys by J.P. Morgan, Ondo, and Chainlink highlights the convergence of traditional finance and DeFi in executing institutional-grade transactions.
- The DvP solution reduces settlement delays, counterparty risk, and intermediary costs by enabling simultaneous cross-chain exchange of assets and payments.
- Kinexys Digital Payments strives to provide enhanced payment solutions for institutional clients, connecting traditional finance with emerging public blockchain infrastructures.
- The successful cross-chain settlement paves the way for future advanced DvP transactions and use cases, setting a foundation for compliant blockchain infrastructure for real-world assets.
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