JPMorgan has executed the first live trade on public blockchain as part of the Monetary Authority of Singapore (MAS) Project Guardian.
The banking giant completed the transaction using DeFi, Tokenized Deposits, and Verifiable Credentials.
Project Guardian is an initiative of MAS with financial institutions such as JP Morgan, Marketnode, and DBS Bank Ltd. Its focus is on use cases for asset tokenization and DeFi.
The pilot program saw DBS Bank, JPMorgan, and SBI Digital Asset Holdings conduct foreign exchange and government bond transactions against liquidity pools containing tokenized Singapore, Japanese government bonds, Japanese Yen, and Singapore dollars.
The participants completed a cross-currency transaction involving tokenized Japanese Yen and Singapore Dollar deposits. They also conducted a simulated trade of tokenized government bonds.
JPMorgan completes first DeFi trade.
JPMorgan’s Head of Blockchain Launch & Onyx Digital Assets, Ty Lobban, explained how the bank compl
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