JPMorgan Debuts Tokenized BlackRock Shares as Collateral with Barclays

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

JPMorgan has carried out its first live blockchain-based collateral settlement transaction involving BlackRock and Barclays, the U.S. banking giant said on Wednesday.

Tokenization occurred within a matter of minutes through connectivity between the fund’s Transfer Agent and TCN, JPMorgan said in a press release. The transfer between Blackrock and Barclays was near instantaneous and represents a first for BlackRock, J.P. Morgan and Barclays, where the shares in MMFs are used as collateral between bi-lateral derivatives counterparts, it said.

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