{"id":48610,"date":"2023-04-27T10:14:13","date_gmt":"2023-04-27T14:14:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=48610"},"modified":"2023-04-27T15:05:50","modified_gmt":"2023-04-27T19:05:50","slug":"jpmorgan-continues-to-tokenize-tradfi-despite-crypto-slump","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/jpmorgan-continues-to-tokenize-tradfi-despite-crypto-slump\/","title":{"rendered":"JPMorgan Continues to Tokenize TradFi Despite Crypto Slump"},"content":{"rendered":"\n

JPMorgan Onyx, the bank\u2019s blockchain platform for tokenizing traditional financial assets, is undaunted by the market and regulatory challenges facing cryptocurrencies. <\/p>\n\n\n\n

\"JPMorgan<\/figure>\n\n\n\n

The platform has processed nearly $700 billion of transactions using tokens backed by U.S. Treasuries and JPM Coin<\/a>.<\/p>\n\n\n\n

JPMorgan Onyx\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is a blockchain platform for tokenizing and trading assets with trusted parties.<\/p>\n\n\n\n

The platform uses a permissioned version of Ethereum<\/use><\/svg><\/span><\/a> and a digitized version of the U.S. dollar, known as JPM Coin, and trades short-term loans with tokens and blockchain accounts for U.S. Treasuries.<\/p>\n\n\n\n

Among the clients using the Onyx-based repo service are Goldman Sachs, BNP Paribas, and DBS Bank. <\/p>\n\n\n\n

Others have recently gone live, and there\u2019s a pipeline of about 15 banks and broker-dealers looking to sign up, Tyrone Lobban, head of Onyx Digital Assets, told CoinDesk in an interview.<\/p>\n\n\n\n

As the platform ramps up, the focus would next move to tokenizing assets that are traditionally hard to finance, like money market funds, and using them for collateral purposes, said Lobban. <\/p>\n\n\n\n

In the future, Lobban anticipates issuing more diverse assets on the blockchain, such as private fund tokens.<\/p>\n\n\n\n

\u201cWe think that tokenization is a killer app for traditional finance,\u201d Lobban told CoinDesk. \u201cIf you think about private markets \u2013 private credit, private equity, and private real estate \u2013 they are pretty much double the size of public markets, but many orders of magnitude less liquid, so there\u2019s this huge disparity.<\/em><\/strong><\/p>\n\n\n\n

After last year's crypto price boom, the Onyx crew has felt the chill of the bear market and governmental scrutiny.<\/p>\n\n\n\n

Lobban said that post-FTX<\/a>, they are more cautious, but JPMorgan\u2019s strategy remains the same.<\/p>\n\n\n\n

\n

\u201cWe are still very much focused on our roadmap,\u201d<\/em>. \u201cWe are still very much focused on our client\u2019s needs and delivering solutions that meet those needs.\u201d<\/em><\/p>\nTyrone Lobban <\/em><\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

JPMorgan Onyx, the bank\u2019s blockchain platform for tokenizing traditional financial assets, is undaunted by the market and regulatory challenges facing cryptocurrencies.  The platform has processed nearly $700 billion of transactions using tokens backed by U.S. Treasuries and JPM Coin. JPMorgan Onyx is a blockchain platform for tokenizing and trading assets with trusted parties. The platform […]<\/p>\n","protected":false},"author":44,"featured_media":48618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[202,351,11296],"class_list":["post-48610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-jpmorgan","tag-tradfi"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/04\/JP-Morgan.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=48610"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/48618"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=48610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=48610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=48610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}