JPMorgan Launches Tokenization Platform for Streamlined Securities Settlements

JPMorgan has unveiled its Tokenized Collateral Network (TCN), a platform built on its Onyx blockchain that aims to streamline securities settlement between major institutions. The platform recently settled its first trade between BlackRock and Barclays, with BlackRock using TCN to tokenize shares in one of its money market funds and transfer them to Barclays as collateral for an over-the-counter derivatives trade. By tokenizing assets on a blockchain, TCN aims to allow instant transfer of collateral, reducing the time taken through traditional settlement channels. JPMorgan plans to expand the scope of assets used as collateral between institutions, including equities and fixed income.

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