JPMorgan's Tokenized Collateral Network (TCN) has gone live by completing its first transaction involving the clients BlackRock and Barclays.
JPMorgan's Tokenized Collateral Network , a blockchain-based collateral settlement application, has reportedly gone live by completing its first transaction involving the clients BlackRock and Barclays.
JPMorgan first internally tested TCN in May 2022, when it transferred tokenized representations of shares from a BlackRock money market fund to serve as collateral on its private blockchain platform Onyx Digital Assets. Now that TCN is live, JPMorgan has a pipeline of other clients and transactions, Ed Bond, head of trading services at JPMorgan, told Bloomberg.
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