JPMorgan Chase trials using its own blockchain for collateral settlement.
According to Bloomberg, JPMorgan conducted a pilot transaction on May 20, which saw two of its entities transfer a tokenized representation of Black Rock Inc. money market fund shares.
“What we’ve achieved is the friction-less transfer of collateral assets on an instantaneous basis,” stated JPMorgan’s global head of trading services Ben Challice. BlackRock wasn’t a counterparty, but it has been heavily involved in the initiative “since day one and are exploring use of this technology.”for quite some time now and also founded Onyx Digital Assets in late 2020.
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