According to a report by Deep Tide TechFlow, JPMorgan has completed its first settlement of U.S. Treasury transactions on a public blockchain, using tokenized U.S. Treasuries from Ondo Finance, and connected its internal systems to the Ethereum network via Chainlink's CCIP. This marks the beginning of traditional financial institutions handling real-world assets (RWA) on public blockchains. According to data from DeFiLlama, the total value of tokenized real-world assets locked has surpassed $12 billion, distributed across more than 80 platforms. BlackRock's tokenized money market fund holds nearly $3 billion, while demand for tokenized U.S. Treasuries from Ondo Finance has surged.

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