JPMorgan’s blockchain-based collateral settlement application goes live

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By BitcoinWiki News

Key Takeaways:

– JPMorgan’s Tokenized Collateral Network (TCN) has gone live after completing its first transaction involving BlackRock and Barclays.
– BlackRock used TCN to convert shares into digital tokens, which were then transferred to Barclays as collateral for a derivatives trade.
– TCN helps move collateral quickly, boosting efficiency and making locked-up capital available for ongoing transactions.
– TCN initially supports money market funds as collateral but plans to add support for other assets like equities and fixed income.
– JPMorgan also operates a blockchain-based payment system called JPM Coin, which recently added support for euro transactions.


JPMorgan’s Tokenized Collateral Network (TCN), a blockchain-based collateral settlement application, has gone live with its first transaction involving BlackRock and Barclays as clients. BlackRock used TCN to convert shares in one of its money market funds into digital tokens, which were then transferred to Barclays as collateral for an over-the-counter derivatives trade. TCN has the potential to boost efficiency by moving collateral almost instantly, allowing locked-up capital to be used as collateral in ongoing transactions. The application initially focuses on money market funds but plans to add support for other assets as collateral in the future. JPMorgan also operates a blockchain-based payment system called JPM Coin, which recently added support for euro transactions in addition to U.S. dollar support.

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