Financial company JPMorgan conducted the first operation on the Polygon blockchain

Financial company JPMorgan conducted the first operation on the Polygon blockchain

user avatar

by dapp_writer005

4 years ago

The American bank JPMorgan Chase & Co transferred 100,000 SGD (about $70 thousand) into tokens, and then exchanged them for tokenized yen with the Japanese financial group SBI Digital Asset.

It was a test deal that took place ahead of the launch of the Guardian project. The experiment took place on the basis of Polygon, using a modified version of the Aave DeFi protocol.

Nowadays, financial companies are exploring various opportunities to improve their operations through the use of blockchain. In particular, it is planned to improve the reverse buyout, borrowing and cross-border transactions.

First of all, banks are interested in private blockchains. Such networks imply work only at the invitation of the organization and the corresponding permission from it.

Earlier, it became known that the Binance exchange has become an active participant in the global market and may invest in the acquisition of the bank soon. 

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other articles

Froyo Games — How the Web3 Ecosystem, Gamebox, NFTs, and FROYO Work

chest

Explore Froyo Games: its GameFi platform, Gamebox, casual games, NFTs, SDK, Pool-to-Play model, FROYO token, tokenomics, blockchain infrastructure, and key risks.

user avatarElena Ryabokon

Plume Network — How the RWA Blockchain, DeFi, and PLUME Token Work

chest

Explore Plume Network: how its RWA L2 works, network architecture, real-world asset tokenization, Nest ecosystem, PLUME token, DeFi integrations, regulation, and risks.

user avatarElena Ryabokon

Credbull Finance — How Private Credit Tokenization and RWA Work

chest

Explore Credbull Finance, its private credit RWA model, credit assets, on-chain infrastructure, LiquidStone products, yield structure, regulation, and key risks.

user avatarElena Ryabokon

Agora AUSD Stablecoin — How It Works, Backing, Blockchains and Risks

chest

Explore Agora AUSD, an institutional stablecoin: how it works, reserve backing, blockchain infrastructure, regulation, use cases, integrations and key risks.

user avatarElena Ryabokon

Pixels Land Expansion Explained: Farm Land, PIXEL Token and GameFi Mechanics

chest

Explore Pixels Land Expansion: NFT Farm Land, free Speck Farms, land rentals, farming, resources, PIXEL token, GameFi economy, and the role of Ronin.

user avatarElena Ryabokon

World of Dypians v2 Explained: Gameplay, WOD Token, NFTs and opBNB Integration

chest

Explore World of Dypians v2: gameplay, opBNB and BNB Chain integration, WOD token, NFTs, GameFi economy, Web3 mechanics, and key risks of the blockchain game.

user avatarElena Ryabokon

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.