Big banks are making moves into the blockchain and crypto space at a greater pace now more than ever. JPMorgan is the latest to experiment with distributed ledger technology to improve transfer efficiency.
On May 26, Bloomberg reported that the Wall Street bank ran a pilot test transfer last week involving a transfer of a token representation of BlackRock money market fund shares as collateral on its private blockchain.
According to the company, the system will allow investors to use a broader range of assets as collateral and make settlements when markets are closed.
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JPMorgan’s global head of trading services, Ben Challice, told the outlet “what we’ve achieved is the friction-less transfer of collateral assets on an instantaneous basis,”
The bank stated that transactions involving derivatives, repo trading, and securities lending could all be settled on the blockchain. It added that there are plans to expand tokenized collateral to include equiti
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