JPMorgan has started using blockchain to provide its clients with the first collateral settlement service. The bank is advancing commercial applications based on core cryptocurrency technology. Tyrone Lobban, head of JPMorgan's Onyx digital assets, stated in an interview that BlackRock used JPMorgan's tokenized collateral network (TCN) to convert one of its money market fund stocks into a digital token, which was then transferred to Barclays Bank as collateral for over-the-counter derivatives trading between the two institutions.

Jamie Dimon, CEO of JPMorgan Chase, said in an interview with Bloomberg that artificial intelligence can be applied to "every process" of company operations and may replace humans in certain roles. Dimon expects to see "all different types of AI models" as well as tools and technologies in the future.

Bank ABC, based in Bahrain, has launched a blockchain-based cross-border payment service in collaboration with JPMorgan's Onyx Coin Systems. The service will initially use the US dollar for transactions between Bahrain, the US, UK, Singapore, and Hong Kong, with plans to expand to more locations and transactions with the euro. The new service is expected to be more cost-effective and reduce settlement times compared to traditional solutions. The Central Bank of Bahrain supervised a trial in January 2022, in which JPM Coin was used to settle payments between Aluminium Bahrain and its US counterparties through Bank ABC.

JPMorgan is reportedly close to entering a new era of digital finance, with a deposit token built on blockchain in the final stages of development. The product will initially target corporate clients, aiming to speed up settlements and payments. Unlike stablecoins, the deposit token will be issued by a depository institution and will allow transactions with other banks. Regulatory approval is still required before the product can be rolled out.