Bloomberg: JP Morgan has launched the first blockchain-based collateral settlement

Odaily Planet Daily News According to Bloomberg, JPMorgan Chase has launched the first blockchain-based customer collateral settlement. The largest asset bank in the United States is promoting commercial applications built on the core encryption technology. JPMorgan’s Tokenized Collateral Network (TCN) was used by BlackRock Inc. to convert shares of one of its money market funds into digital tokens, which were then converted into digital tokens, said Tyrone Lobban, head of Onyx Digital Assets, JPMorgan’s digital assets arm. Transferred to Barclays as collateral for an OTC derivatives transaction between the two institutions.