JPMorgan's Big Move for This Altcoin Suddenly Boosts Its Price! - Coin Bulletin

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The largest bank in the US, JPMorgan Chase, conducted a treasury bond transaction tokenized on a public blockchain network for the first time, causing the price of Ondo (ONDO) to increase by 10%.

JPMorgan, one of the financial giants in the world, has been developing its own private blockchain network for a long time and had kept this network exclusive for its clients. However, the bank has now changed its strategy and announced that it has completed a transaction on a public blockchain platform for the first time. This transaction, made in partnership with Ondo Finance and blockchain oracle provider Chainlink, has become a critical milestone for JPMorgan.

In a transaction that took place at the beginning of May, JPMorgan's blockchain unit Kinexys transferred the purchase of tokenized US Treasury bonds from its private blockchain network to Ondo's public blockchain network. JPMorgan utilized Chainlink's communication protocol to enable data flow between different blockchain networks for the successful execution of the transaction.

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JPMorgan's move quickly resonated in the market and directly reflected on the ONDO price. Shortly after the news, the price of the Ondo token increased by 10%, delighting its investors.