(Bloomberg) -- JPMorgan Chase & Co. has gone live with its first collateral settlement for clients using blockchain, as the largest US bank by assets pushes ...
-- JPMorgan Chase & Co. has gone live with its first collateral settlement for clients using blockchain, as the largest US bank by assets pushes ahead with commercial applications built on the technology at crypto’s core.China Mulls New Stimulus, Higher Deficit to Meet Growth Goal
According to JPMorgan’s Lobban, using the bank’s blockchain network Onyx Digital Assets, meant the collateral moved almost instantaneously, compared with over the course of a day. At scale, the technology would increase efficiency by freeing up locked capital so that it could be used as collateral in ongoing transactions, he said.
Blockchain proponents say that using the technology will make it easier for financial institutions to use their shares in money-market funds as collateral because they won’t have to redeemed them for cash, as they currently do when using traditional processes. That would make the transactions faster and potentially reduce risks during times of market stress.
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