JPMorgan's blockchain enables automatic cash swaps

by Liza Tanasova

3 years ago

US banking giant JPMorgan has implemented automatic blockchain settlements using its JPM Coin system, designed for the transfer of tokenized assets. This innovative feature empowers clients to automate overdue payments and margin calls through distributed ledger technology.

Developed by JPMorgan's blockchain division, Onyx, the system boasts advantages over conventional bank accounts, offering configurability and scalable programmable payments. Launched in 2019 to expedite US dollar payments, JPM Coin has now evolved to streamline tokenized euro-based payments, showcasing the bank's commitment to embracing blockchain for efficient settlement processes.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Stablecoin Growth on Solana Enhances DeFi and Payment Applications

The growth of stablecoins on Solana is expected to enhance DeFi lending markets and payment applications.

Mohamed Farouk9 hours ago

Importance of Validator Voting in XRPL Governance

Validator voting is crucial for determining the activation of proposed amendments in the XRP Ledger, impacting long-term network development.

Tenzin Dorje9 hours ago

XRP Ledger Approaches Key Validator Voting Window

The XRP Ledger is approaching a critical deadline for validator voting on proposed protocol amendments that could influence future network features.

Aisha Farooq9 hours ago

Solana's Stablecoin Market Cap Hits $15 Billion

Solana's stablecoin market capitalization has surpassed $15 billion, marking a significant milestone in the network's liquidity growth.

Bayarjavkhlan Ganbaatar10 hours ago

Anchorage Introduces Native TRX Staking for Institutions

Anchorage Digital has launched a new service for institutional clients to stake TRX directly from their custody accounts, allowing them to earn rewards from the TRON network without transferring assets out of a regulated environment.