JPMorgan Chase & Co., the bank of all the U.S. banks, has successfully launched its first-ever collateral settlement on Tokenized Collateral Network (TCN), Bloomberg said on Oct. 11.
JPMorgan has achieved a milestone as its first blockchain-based collateral settlement successfully debuted for BlackRock-Barclays. TCN facilitated its trade with the asset management powerhouse BlackRock Inc. and Barclays as the first users.
JPMorgan Spearheads Blockchain-Powered Collateral Settlement
BlackRock reportedly utilized the system to tokenize “shares in one of its money market funds” These digital tokens were subsequently transferred to Barclays Plc to support an over-the-counter derivatives trade between BlackRock and Barclays, according to Tyrone Lobban, Head of Onyx Digital Assets & Blockchain Launch at JPMorgan.
TCN is one of JPMorgan’s major forays into blockchain. Launched in 2021, the network allows participants to tokenize and…
