TechFlow reported, according to Bloomberg, that JPMorgan has begun using blockchain technology to provide collateral settlement services for clients. The bank tested its tokenized collateral network in May.
Tyrone Lobban, head of Onyx Digital Assets, said in an interview that BlackRock has adopted JPMorgan's Tokenized Collateral Network (TCN), converting shares of one of its money market funds into digital tokens and transferring them as collateral to Barclays for over-the-counter derivatives transactions between the two institutions.
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