Chainlink, Kinexys, and Ondo test blockchain DvP settlement

The trial involved a cross-chain settlement that leveraged Kinexys Digital Payments’ permissioned network and the Ondo Chain testnet, marking the latter's first operational transaction. 

The exchange included Ondo Finance’s tokenised US Treasuries Fund (OUSG) and used Kinexys Digital Payments to represent the payment leg. Chainlink’s Runtime Environment (CRE), an offchain coordination platform, managed the process by integrating with Kinexys’ synchronised settlement workflow. This enabled a simultaneous, atomic settlement of both the payment and asset on separate blockchains while maintaining compliance and operational safeguards tailored to institutional standards.

Settlement infrastructure expands beyond private chains 

This initiative also expands Kinexys’ integrations beyond fully private blockchain environments. The Ondo Chain testnet, built as a public Layer 1 blockchain specifically designed to support real-world asset tokenisation, served as the infrastructure for asset transfer. The CRE environment orchestrated the full lifecycle of the transaction, ensuring that all activity across both networks adhered to security and transparency requirements typical of institutional finance. 

Representatives from Kinexys noted that the project reflects ongoing efforts to modernise the payments experience for institutional clients, particularly as financial institutions begin to engage with public and hybrid blockchain systems. They emphasised that connecting private payment platforms with blockchain infrastructure could improve efficiency while broadening settlement options for clients. 

According to Ondo Finance officials, the demonstration illustrates how scalable blockchain infrastructure can support real-world financial products. Similarly, representatives from Chainlink pointed to the event as part of a larger shift towards linking decentralised finance capabilities with the operational needs of traditional finance institutions. 

DvP transactions, particularly across borders, remain difficult to execute in conventional systems due to the reliance on disparate, often manual workflows. These challenges have historically led to substantial settlement failures and counterparty risks. Chainlink’s infrastructure allowed for simultaneous transfer of assets and payments across blockchains, aiming to reduce those risks while enhancing settlement speed and visibility.