Major Financial Institutions Embrace Blockchain Technology for Asset Tokenization and FX Solutions
TL;DR
Singapore's central bank, along with major financial institutions including JPMorgan, DBS, and BNY Mellon, is testing tokenization use cases such as digital asset trades, foreign currency payments, clearing and settlement, fund management, and portfolio rebalancing. JPMorgan and Apollo have conducted a proof of concept to tokenize funds on the blockchain. This initiative is part of Project Guardian, which aims to advance asset tokenization and includes regulators from Japan, the UK, and Switzerland. Additionally, OKX is offering derivatives trading without counterparty risk, SC Ventures has launched a tokenization platform, and a chart shows a decline in bitcoin held by miners.
Topics:businesscryptocurrencyblockchain#bny-mellon#central-bank#cryptocurrencyblockchain#jpmorgan#singapore#tokenization
- Goldman Sachs Leads Blockchain Firm Fnality Raise of $95M CoinDesk
- Citi Develops Blockchain FX Solution under the Monetary Authority of Singapore's Project Guardian Business Wire
- MAS Expands Efforts To Tokenize Assets Through New Financial Industry Partnerships Yahoo Finance
- JPMorgan, Apollo Tokenize Funds in 'Proof of Concept' With Axelar, Oasis, Provenance CoinDesk
- Singapore introduces 5 new pilots to test asset tokenization Cointelegraph
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on CoinDesk