JPM - JPMorgan Initiates First Collateral Settlement Using Digital Tokens Blockchain | Benzinga
JPMorgan Chase & Co. (NYSE: JPM) has initiated its inaugural collateral settlement using blockchain technology.
The bank's Tokenized Collateral Network (TCN) facilitated BlackRock Inc. (NYSE: BLK) in converting shares from one of its money market funds into digital tokens.
These tokens were subsequently transferred to Barclays Plc (NYSE: BCS), serving as collateral for an over-the-counter derivatives deal between the two entities, according to Tyrone Lobban, the head of Onyx Digital Assets at JPMorgan, Bloomberg reported.
As the crypto sector continues to evolve, such groundbreaking applications of blockchain technology are expected to be a focal point at the upcoming Benzinga's Future of Digital Assets conference on Nov. 14. The event aims to delve deep into the transformative potential of ...