JPMorgan's blockchain-based collateral settlement application goes live: Bloomberg

Quick Take

  • JPMorgan’s Tokenized Collateral Network (TCN) has reportedly gone live.
  • TCN is a blockchain-based application that enables JPMorgan clients to utilize tokenized assets as collateral.

JPMorgan's Tokenized Collateral Network (TCN), a blockchain-based collateral settlement application, has reportedly gone live by completing its first transaction involving the clients BlackRock and Barclays.

BlackRock used TCN to convert shares in one of its money market funds into digital tokens, which were then transferred to Barclays as collateral for an over-the-counter derivatives trade between the two institutions, Bloomberg re