JPMorgan has announced the launch of its Tokenized Collateral Network, the firm’s in-house tokenization platform meant to simplify the use of assets as collateral.
- U.S. banking giant JPMorgan continues to charge full steam ahead with the integration of blockchain technology into its operations with the launch of the Tokenized Collateral Network , the firm's in-house blockchain-based tokenization application.
“Money market funds play an important role in providing liquidity to investors in times of high market volatility,” said Tom McGrath, deputy global chief operating officer of the cash management group at BlackRock. “The tokenization of money market fund shares as collateral in clearing and margining transactions would dramatically reduce the operational friction in meeting margin calls when segments of the market face acute margin pressures.
In other words, the platform allows clients to access intraday liquidity through a secured repo transaction using tokenized collateral instead of relying on expensive unsecured credit lines. External clients who agree to the blockchain trade have their own node on which they can settle the trade and access other reports.
The major benefit of JPM Coin payments is that they operate 24/7 and are not limited to business hours like traditional transactions. This helps reduce processing time so that client transactions are executed more quickly.
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