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JPM & Blackrock Announce New Partnership...tokenization of assets

 
Anonymous Coward
User ID: 80326087
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10/11/2023 03:51 PM
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JPM & Blackrock Announce New Partnership...tokenization of assets
new world order is rolling right out!

two of the the largest financial firms in the world partnering...


Anonymous Coward (OP)
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10/11/2023 03:51 PM
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Re: JPM & Blackrock Announce New Partnership...tokenization of assets
Anonymous Coward (OP)
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10/11/2023 03:53 PM
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Re: JPM & Blackrock Announce New Partnership...tokenization of assets
United States banking giant JPMorgan debuted its in-house blockchain-based tokenization application, the Tokenized Collateral Network (TCN), on Oct. 11, according to Bloomberg. TCN settled its first trade for asset management giant BlackRock.

The Tokenized Collateral Network is an application that allows investors to utilize assets as collateral. Using blockchain technology, investors can transfer collateral ownership without moving assets in underlying ledgers.

In its first public collateralized trade between JPMorgan and BlackRock, the TCN turned shares of one money market fund into digital tokens, which were then transferred to Barclays bank as security for an over-the-counter derivatives exchange between the two companies.

The first internal test of the TCN was conducted by JPMorgan in May 2022, with a pipeline of other clients and transactions now that TCN is live. The TCN was launched to streamline and scale the process of traditional settlements on a blockchain. The use of decentralized technology made the process faster, more secure and more efficient.





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