JPMorgan achieved a significant milestone this week, conducting its first live blockchain-based collateral settlement transaction between BlackRock and Barclays, using JPMorgan’s Ethereum-based Onyx blockchain and the Tokenized Collateral Network (TCN). The transaction involved BlackRock tokenizing shares from one of its money market funds and transferring them to Barclays as collateral for over-the-counter (OTC) derivatives trading. The process took only minutes, boding well for the enhancement of liquidity and reduction of market volatility risk in the future.
JPMorgan Debuts Blockchain Collateral Transaction on TCN
