JPMorgan Debuts Tokenized Collateral Network In BlackRock-Barclays Trade

JPMorgan Chase & Co on Wednesday debuts the first blockchain-based collateral settlement for BlackRock. The largest US bank by assets used JPMorgan’s Tokenized Collateral Network (TCN) to convert shares in one of its money market funds into digital tokens. The tokens were then transferred to Barclays Plc as collateral for an over-the-counter derivatives trade between the two institutions.