JPMorgan Chase has finalized its initial transaction on a public blockchain, showcasing its growing engagement with the Web3 sector. The global bank recently settled a deal involving tokenized U.S. Treasuries on Ondo Finance, utilizing Chainlink to bridge private and public networks. This move is part of JPMorgan's Kinexys project, aiming to connect traditional finance with DeFi. Ondo Finance CEO Nathan Allman described the transaction as a significant step towards the future of finance. Colin Cunningham from Chainlink Labs highlighted the historic nature of JPMorgan's integration of core payment systems with a public blockchain. The bank's foray into Web3 aligns with the rising trend of real-world asset tokenization, attracting institutional investors. JPMorgan's previous ventures in distributed-ledger technology, such as JPM Coin, have laid the groundwork for its current initiatives in facilitating cross-border transactions efficiently and cost-effectively. Read more AI-generated news on: https://app.chaingpt.org/news