ONDO Crypto (RWA Juggernaut) Is Down 2.7% Overnight as It Struggles to Break Through the Heavy Resistance Barrier at $1

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The price of ONDO crypto is down 2.7% overnight as it struggles to break through the heavy resistance barrier at $1.

The entire crypto market is struggling today as Bitcoin has lost some ground on its run toward a new all-time high, dropping to $108,900 in the past 24 hours.

This came as Chainlink announced a first-of-its-kind cross-chain, atomic Delivery versus Payment (DvP) transaction in collaboration with Kinexys by J.P. Morgan and Ondo.

The transaction took place on the Ondo Chain testnet, highlighting the testing phases that both projects are currently in.

Announcing a first-of-its-kind cross-chain, atomic DvP in collaboration with @jpmorgan Kinexys and @OndoFinance.

This milestone marks the first use of Ondo Chain’s infrastructure and is a first-of-its-kind cross-chain, atomic Delivery versus Payment (DvP) settlement of a tokenized asset (OUSG) between Kinexys Digital Payments’ permissioned blockchain network and a Layer 1 blockchain network (Ondo Chain), via Chainlink’s cross-chain orchestration infrastructure.

The transaction was executed on the Ondo Chain testnet, highlighting the testing phases that both projects are currently in.

The transaction began with Kinexys, a subsidiary of J.P. Morgan, crediting an account on its Kinexys network, which is a private or permissioned blockchain network, with OUSG tokens.

The tokens were then transferred to a Chainlink Cross Chain Integration (CCI) contract, which acted as an intermediary between the two chains and facilitated the cross-chain transfer of funds and state.

The Chainlink CCI is designed to enable seamless interoperability between different blockchain networks, allowing for the coordination of multiple parties and the execution of complex transactions across different chains.

After the tokens arrived in the CCI, they were mapped to the Ondo Chain token standard via a Chainlink Token Service Integration (TSI). This step ensured compatibility between the two chains and enabled the seamless flow of tokens.

Finally, the OUSG tokens arrived in an account on the Ondo Chain testnet, completing the transaction and marking a significant milestone in blockchain interoperability and interoperability.

“This successful execution represents a major milestone, not only for the launch of Ondo Chain’s testnet, but in doing so with two of the most prominent players in both traditional finance and crypto,” said Nathan Allman, CEO of Ondo Finance.

The transaction was also noted by the official Ondo X account, which stated:This marks a significant milestone in blockchain interoperability and interoperability.

The transaction was executed on the Ondo Chain testnet and involved the transfer of OUSG tokens, a type of stablecoin pegged to the U.S. dollar, from Kinexys' private blockchain network to the Ondo Chain testnet.

The transaction was also noted by the official Ondo X account, which stated:This milestone marks the first use of Ondo Chain’s infrastructure and is a first-of-its-kind cross-chain, atomic Delivery versus Payment (DvP) settlement of a tokenized asset (OUSG) between Kinexys Digital Payments’ permissioned blockchain network and a Layer 1 blockchain network (Ondo Chain), via Chainlink’s cross-chain orchestration infrastructure.

The transaction was executed on the Ondo Chain testnet, highlighting the testing phases that both projects are currently in.

Announcing a first-of-its-kind cross-chain, atomic DvP in collaboration with @jpmorgan Kinexys and @OndoFinance.This marks the first use of Ondo Chain’s infrastructure and is a first-of-its-kind cross-chain, atomic Delivery versus Payment (DvP) settlement of a tokenized asset (OUSG) between Kinexys Digital Payments’ permissioned blockchain network and a Layer 1 blockchain network (Ondo Chain), via Chainlink’s cross-chain orchestration infrastructure.The transaction began with Kinexys, a subsidiary of J.P. Morgan, crediting an account on its Kinexys network, which is a private or permissioned blockchain network, with OUSG tokens. The tokens were then transferred to a Chainlink Cross Chain Integration (CCI) contract, which acted as an intermediary between the two chains and facilitated the cross-chain transfer of funds and state.Chainlink CCI is designed to enable seamless interoperability between different blockchain networks, allowing for the coordination of multiple parties and the execution of complex transactions across different chains.After the tokens arrived in the CCI, they were mapped to the Ondo Chain token standard via a Chainlink Token Service Integration (TSI). This step ensured compatibility between the two chains and enabled the seamless flow of tokens.Finally, the OUSG tokens arrived in an account on the Ondo Chain testnet, completing the transaction and marking a significant milestone in blockchain interoperability and interoperability