JPMORGAN complete the settlement of the first transactions on the book of the General Professor
The GPMorgan (NYSE: JPM) has announced the implementation of the first transaction settlement outside its partnership system with Cainlink (Link) and ONDO.
The experimental treatment, which was conducted through the Kinexys digital payment platform, included the American Treasury code and settled on the Testnet chain series, according to May 14. press release.
This transaction represents the appearance of the delivery form against payment (DVP), which coincides with conversion, payment, and transfer of assets to reduce the risk of the opposite party and delay the settlement.
The Kinexys, the Blockchain section in JPMORGAN, used to deal with the paid stem, while the asset side consists of the short -term ONDO Finance box (OUSG). This Blockchain -based cabinet is designed to provide exposure to US government debts with the benefits of transparent settlement in actual time.
Kinexys, which is said to treat more than two billion dollars in the volume of daily transactions, connects its own network of the Oondo Public Series, a noticeable transformation of the historically closed network approach to the bank.
Meanwhile, the safe infrastructure of the cross series, known as the Cainlink time (CRE), has facilitated the leveling of the atomic network.
CRE coordinated transport through the Kinxys system that was declared and the Oondo Public Series, ensuring permanently in actual time, strengthening liquidity, and reducing the risk of the opposite party.
“It has become increasingly clear to the world’s institutions that they have a large market that can be addressed in the public chain community and that they need a reliable set of technical standards and communication capabilities through the series to successfully deal in this new world,” said Sergey Nazarov, co -founder of the series of cross -chain to successfully process in this new world.
Jpmorgan Blockchain Ventures
It should be noted that this early treatment is not the first JPMorgan project outside its own network. The entity previously tested the Blockchain integration, including 2024 pilot with Siemens Digital.
This shift comes by the banking giant at a time when the United States moves towards the most appropriate encrypted currency regulations after President Donald Trump is elected.
Nelli Zaltsman, head of the platform settlement solutions at Kinexys, stressed that this new project was not driven by political changes or the enthusiasm of the last investors of encryption. Instead, it is part of the bank’s strategic road map.
Although the bank’s CEO, Jimmy Damon, was a vocal critic in Bitcoin, he admitted that Blockchain technology can find use in the financial sector.
Distinctive image via Shutterstock
