JPMorgan has executed the first live trade on public blockchain as part of the Monetary Authority of Singapore (MAS) Project Guardian.<\/p>\n
The banking giant completed the transaction using DeFi, Tokenized Deposits, and Verifiable Credentials.<\/p>\n
Project Guardian<\/a> is an initiative of MAS with financial institutions such as JP Morgan, Marketnode, and DBS Bank Ltd. Its focus is on use cases for asset tokenization and DeFi.<\/p>\n The\u00a0pilot<\/a><\/span>\u00a0program saw DBS Bank, JPMorgan, and SBI Digital Asset Holdings conduct foreign exchange and government bond transactions against liquidity pools containing tokenized Singapore, Japanese government bonds, Japanese Yen, and Singapore dollars.<\/p>\n The participants completed a cross-currency transaction involving tokenized Japanese Yen and Singapore Dollar deposits. They also conducted a simulated trade of tokenized government bonds.<\/p>\n JPMorgan's Head of Blockchain Launch & Onyx Digital Assets, Ty Lobban, explained how the bank completed the transaction in a Nov. 2 Twitter thread.<\/p>\n WORLD! J.P. Morgan has executed its 1st *LIVE* trade on public blockchain using DeFi, Tokenized Deposits & Verifiable Credentials, part of @MAS_sg<\/a> Project Guardian \ud83d\ude4c\ud83d\ude80\ud83d\udd25https:\/\/t.co\/XI212SG4zg<\/a> Many world 1sts here, & since this is public \u26d3 here\u2019s a transparent\ud83e\uddf5on what we did:<\/p>\n — Ty Lobban (@TyLobban) November 2, 2022<\/a><\/p><\/blockquote>\nJPMorgan completes first DeFi trade.<\/h2>\n
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