Kinexys from JPMorgan is connected to Blockchain General in Ondo Chain Testnet for the first time

JPMorgan (JPM) took its first steps on the General Blockchain network through the Kinexys digital payment platform, as it settled with the treatment of a symbolic American cabinet on Testnet in the ONDo series.

The pilot, who was detailed in a joint press release with Coindesk, is the first delivery for payment (DVP) on TESTNET, new 1 Blockchain layer Designed to support assets in the real world.

Kinexys, which the version says, treats more than $ 2 billion in the size of daily transactions, dealt with the wheel of payment, while the Ondo box is distinctive for the short -term cabinet (OSG) the form of assets. Chainlink-operating environment-a system to coordinate workflow across the series-is based on the two networks.

This is the first time that Kinexys, Wall Street Bank, has prepared a transaction on a group of public Blockchain. This step indicates a transformation as the bank explores ways to expand the infrastructure of institutional payments to the growing market for assets code in the real world.

“By connecting the solution to institutional payments safely and non -Blockchain from Selm, we can provide our customers and the broader financial ecosystem wider than the benefits and developmentable solutions for settlement transactions,” said Neil Zelmena, head of settlement solutions in the episodes.

Often traditional financing is struggled with DVP transactions, which require pre -payments or at the same time with the delivery of securities, due to segmented systems and manual steps that delay the settlement, notice the version.

It indicates the data indicating that the failure and settlement failure may cost the market participants more than 900 billion dollars in the past ten years. She says Blockchain technology can be used to make simultaneous transactions in the series.

JPMorgan expanded the Blockchain payment network, after it recently added Support Bond Pond accounts.