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Brief
JPMorgan's blockchain platform for institutional payments, tokenized assets, and settlement, formerly Onyx. Powers tokenized deposits, money market funds, repo, and cross-border payments across private rails and selected public-chain pilots.
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Primary sources
Checks cover the claims listed below. Other details may still need review.
- Ondo: cross-border OUSG redemption pilot (opens in a new tab)
Checked
- May 6, 2026 pilot: OUSG asset leg on XRPL, instruction via Mastercard MTN and USD payout through Kinexys and correspondent banking.
- This checks the named pilot roles only, not a general rollout or a first-ever market-wide claim.
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Snapshot
Key terms and identifiers.
- Asset classes
- Private credit, Treasuries
- Regulatory
- sec-reg-d, dtcc-settlement-2026
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Milestones
How this player got here.
- May 2026Settled USD to Ripple Singapore in first cross-border tokenized treasury redemption with Ondo and Mastercard MTN
- Jan 2025Processes $1B+/day in payments
- Nov 2023Rebranded from JPM Coin/Onyx
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Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
