JPMorgan Partners With Digital Asset for Blockchain Trial
JPMorgan Chase has teamed up with Digital Asset Holdings on a trial blockchain initiative that aims to make the trading process more efficient and cost effective. As reported in the FT, several uses of the technology are to be examined, including addressing liquidity mismatches in loan funds. These funds give investors quick access to money, although the underlying assets often take far longer to sell due to a complex manual process that must deal with multiple parties. “To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks,” Daniel Pinto, CEO at JPMorgan's....
Related News
Banking giant JPMorgan Chase has begun the trial of a blockchain project that may prove to be a landmark endeavor in bringing cost-cutting and easier trading to the banking industry. The blockchain project is facilitated by the bank’s collaboration with blockchain-startup Digital Asset Holdings (DAH). The largest bank in the United States by assets – JPMorgan Chase has begun a trial project that utilizes blockchain technology, in collaboration with New York-based blockchain startup Digital Asset. The two companies are looking to introduce distributed ledger or blockchain technology to the....
JPMorgan has reportedly been moving money between London and Tokyo as part of a trial that incorporates blockchain technology. According to The Wall Street Journal, the tests involve about 2,200 of the bank’s clients. Daniel Pinto, CEO of the firm’s corporate and investment banking unit, told the news outlet that the test is a prelude to using the technology to move real funds internationally using a blockchain. More details, the report indicated, will be offered during an investor event today in New York. The bank has been testing the technology in collaboration with New York blockchain....
Wall Street has become more accepting of cryptocurrencies and the blockchain in recent months. One of America’s biggest bank, JPMorgan has joined hands with Singapore’s Tamasek Holdings and DBS Group in a move to overhaul the blockchain-based foreign exchange and trade settlement for cross-border payments. JPMorgan has announced the launch of a new company Partior […]
PeerNova and State Street have been trialing a blockchain-enabled platform for the tracking and monitoring the flow of funds. The two partners anticipate completing all the relevant milestones by October 2016 and will eventually move forward to a pilot phase right after the trial, Gangesh Ganesan, CTO and co-founder of PeerNova told Bitcoin Magazine. The trial program uses PeerNova's technology Cuneiform, a big data platform designed to support the speed and scale required by large financial institutions, while incorporating key characteristics of blockchain technology including....
A Florida software engineer and a New Jersey pastor are expected to face trial connected to the Coin.mx bitcoin exchange investigation and a security breach at JPMorgan Chase & Co, reports Reuters. According to the report, jury selection is set to start in Manhattan federal court for Yuri Lebedev, the suspected planner behind Coin.mx’s platform, and Trevon Gross, a pastor and ex-chairman of a now-defunct credit union. Lebedev is suspected of misleading financial institutions into processing transactions for bitcoin exchange Coin.mx, which was unlicensed. He is also alleged to have....