JPMorgan Chase finalizes initial blockchain deal with Chainlink (LINK) and Ondo Finance (ONDO), as per a recent report.

The biggest bank in the US is embracing the crypto-woo-woo world by settling blockchain transactions outside of its proprietary networks. That's right, you heard it! JPMorgan Chase just confirmed that they've settled a transaction on a public ledger using oracle service Chainlink and tokenization-focused platform Ondo Finance.

This is not just a bunch of hot air, folks. This is a real deal; it's the first time JPMorgan has ventured beyond its private blockchain tech, which they were previously developing exclusively for customer use. Sergey Nazarov, the co-founder of Chainlink, said it best: "This isn't just another test run, it's the start of something big!"

And, though it may be hard to believe, they've actually been planning this for years. Nelli Zaltsman, head of JPMorgan's blockchain division, called Kinexys, said she's been chatting with Chainlink's Nazarov for years, ever since they met at a conference two years ago. Kinexys is all about "streamlining money movement, improving asset settlement times, unlocking liquidity, and creating new revenue opportunities," the bank says.

In the past year, Kinexys (formerly Onyx) has processed $1.5 trillion in transaction volume and experienced over 10x growth in payments transactions. As a result, LINK and ONDO are shotting up, with gains of 24% and 21% respectively. So, grab your wallets, folks - it looks like the future of finance is here to stay!

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The announcement by JPMorgan Chase of settling a transaction on a public ledger using Chainlink and Ondo Finance marks a significant move for the cryptocurrency industry, as they've ventured beyond their private blockchain tech for the first time. Kinexys, JPMorgan's blockchain division, is focused on streamlining money movement, improving asset settlement times, unlocking liquidity, and creating new revenue opportunities. The altcoins LINK and ONDO have seen gains of 24% and 21% respectively, offering a telling sign of the potential impact of this industry development on the business of finance.

JPMorgan Chase finalizes initial blockchain deal with Chainlink (LINK) and Ondo Finance (ONDO), as per a recent report.