JP Morgan executes first DeFi trade on public blockchain
The MAS Chief Fintech Officer said the successful test was “a big step towards enabling more efficient and integrated global financial networks.” Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain.The trade was facilitated by the Monetary Authority of Singapore’s (MAS) Project Guardian on Nov. 2 — which was established as part of a pilot program to “explore potential decentralized finance (DeFi) applications in wholesale funding markets.” In other words, the pilot was another step....
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MakerDAO co-founder's death opened a new pandora box of conspiracy theories, based on some of his recent tweets. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.The first week of November proved to be the institutionalization of DeFi markets as major international banks and financial institutions executed and completed their first DeFi transaction.The global financial giant JP Morgan completed its first-ever cross-border transaction using DeFi on a public....
Legacy financial institutions are embracing crypto and decentralized finance (DeFi), and the Ethereum-based protocol Aave is proof. Today, the team behind the protocol announced that banking giant JP Morgan Chase completed its first DeFi transaction. 5/5 @jpmorgan transacting on a public blockchain using Aave smart contracts is a huge milestone for DeFi, and represents a massive step towards bringing traditional financial assets into DeFi, to fully realize the opportunities afforded by smart contract based dApps. — Aave (@AaveAave) November 2, 2022 This represents a major milestone for....
One of Wall Street’s largest financial institutions, Morgan Stanley, has announced plans to launch cryptocurrency trading on its E*Trade platform in the first half of 2026, facilitated through a partnership with Zerohash, a company specializing in infrastructure for digital assets. Reuters reported on Tuesday that E*Trade clients will initially have the opportunity to trade major […]
A recent JP Morgan poll found that 22% of the respondents said their respective organizations were likely to trade or to invest in cryptocurrencies. This figure (22%) is double the percentage of respondents (11%) who said yes when asked if their respective organizations were already trading or were invested in cryptocurrencies. The Institutional Embrace of Cryptos According to a report, the findings of this latest poll represent fresh evidence that backs the claim that more mainstream institutions are embracing crypto assets. Already, since the start of the year 2021, major corporations....
Morgan Stanley, one of the world’s largest investment banks, is reportedly set to introduce cryptocurrency trading on its consumer platform, E*Trade. According to a Bloomberg report citing sources familiar with the matter, the banking giant plans to allow customers to buy and sell cryptocurrencies starting next year, capitalizing on the recent deregulation efforts spearheaded by […]