JPMorgan (JPM) took his first step on a public blockchain network through his Kinexy’s Digital Payments platform, where he wound up a tokenized American Treasury transaction on the Odo Chain’s test network.

The pilot, which is detailed in a press release shared with Coindesk, marks the debut of a delivery versus payment (DVP) transaction on the test network, a new LAG -1 blockchain designed to support assets in the real world.

Kinexys, as the release says, deals on average over $ 2 billion in daily transaction volume, handled the payment leg while Ondo Finance’s tokenized short -term Treasury (OUSG) formed the asset leg. Chainlink Runtime Environment — a system for coordinating workflows across chains-secret settlement across the two networks.

This is the first time Kinexys, Wall Street Bank’s allowed network, has performed a transaction on a public blockchain. The relocation signalizes a shift as the bank explores ways to expand its institutional paying infrastructure to the growing market for real assets.

“By securely and thoughtful to connect our institutional payment solution with both external public and private blockchain infrastructures, we can offer our customers and the wider financial ecosystem a wider range of advantages and scalable solutions to run transactions,” said Nelli Zaltsman, head of settlement solutions on Kinexys, in the statement.

Traditional funding often struggles with DVP transactions that require payments to be made before or at the same time as the delivery of securities due to fragmented systems and manual steps that delay settlement notes release.

It points to data suggesting that payment and settlement errors have cost market participants over $ 900 billion in the last 10 years. Blockchain technology, says it, can be utilized to implement simultaneous transverse chain transactions.

JPMorgan has expanded its blockchain-based payment network after he recently added support to British pounding accounts.