Chainlink, Kinexys, and Ondo Finance have completed a pilot cross-chain transaction based on the Delivery versus Payment (DvP) principle, marking the first of its kind. This agreement was made possible through the use of the Chainlink Runtime Environment (CRE) technology, which enabled the coordination of settlements between two isolated blockchains and facilitated the transaction without risks for the parties involved.
This is reported by Бізнес • Медіа
Features of the Technology and Advantages of Cross-Chain Settlements
The DvP mechanism allows for the exchange of assets only on the condition that values are simultaneously transferred by both parties to the agreement. This significantly reduces risks, as neither party risks being left without funds or assets. The testing involved the Kinexys Digital Payments network and the Ondo Chain project, which specializes in tokenized real-world assets (RWA). All settlements were conducted through the off-chain infrastructure of CRE, ensuring the atomicity of operations across different blockchains.
Unlike traditional financial infrastructure, where DvP settlements require significant effort and manual intervention due to system isolation, blockchain technologies allow for the automation of these processes. This is particularly important for cross-border transfers, where speed and transparency are critical.
“Networks provide a reliable foundation for optimizing DvP settlements. When the assets and payment components of a transaction are settled on-chain and organized using Chainlink infrastructure, transactions can be executed atomically across networks,” the release states.
Tokenized Assets and the Prospects for Implementing CRE
In this cross-chain transaction, the parties used a tokenized fund of U.S. Treasury short-term bonds OUSG, which is one of the key products of Ondo Finance. Thanks to CRE, operations were conducted almost in real-time, simplifying auditing and automating processes.
Chainlink experts note that CRE can be applied to a wide range of DvP agreements across various blockchain environments. Given the growth of the tokenized asset market and the increasing number of both public and private blockchains, the importance of such solutions is only increasing.
“The economy of tokenized assets is expected to experience exponential growth in the coming years, and combined with the growing number of public and private blockchains, the importance of being able to organize complex DvP transactions in various DLT environments will only rise. CRE serves as the foundation for enabling these complex interactions, and the recent collaboration between JP Morgan, Ondo Finance, and Kinexys is just the tip of the iceberg,” stated Chainlink.
According to data from April 2025, the market capitalization of the tokenized asset sector reached $21 billion, which is 245 times higher than the previous year’s figures.
