JPM - JPMorgan Reportedly Fires Up Blockchain Prowess: A Sizzling Collateral Settlement Ballet With BlackRock & Barclays | Benzinga
JPMorgan Chase & Co. (NYSE: JPM) has reportedly unleashed a blockchain revolution, initiating collateral settlement for clients as the bank moves towards the commercial applications of the technology, which is rooted deep within the foundation of cryptocurrency.
The notable venture is utilizing the bank's Tokenized Collateral Network (TCN), which saw its practical use by BlackRock Inc. (NYSE: BLK), and represents a step forward in the practical application of blockchain in financial transactions, according to a news report by Bloomberg, citing statements from Tyrone Lobban, head of Onyx Digital Assets at JPMorgan.
BlackRock employed TCN to convert shares from one ...