.jpmorgan conducts its first blockchain-based swap on 0xPolygon between $SGD and $JPY: Why is this important? w/ TyLobban
November 2, 2022
The first industry pilot under MAS’ Project Guardian that explores potential decentralised finance applications in wholesale funding markets has completed its first live trades.Mr. Lobban unveiled that Polygon blockchain platform was chosen for this trade due to its low fees compared to Ethereum . To perform the exchange, tokenized versions of the Japanese Yen and Singapore Dollar were released on Polygon by J.P. Morgan.
Mr. Sopnendu Mohanty, chief fintech officer of MAS, stresses the importance of today's experiment for industry leaders, institutions and regulators:
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