JPMorgan debuts tokenization platform TCN with BlackRock among key clients: Report

JP Morgan’s tokenization network was launched with the aim to streamline and scale the process of settling traditional settlements on a blockchain. The use of decentralized technology made the process faster, more secure and more efficient.

According to Tyrone Lobban, head of Onyx Digital Assets at JPMorgan, the new TCN platform unlocks capital that has been locked up and allows it to be used as collateral in ongoing transactions, the technology would boost efficiency at scale. The platform makes it possible to create, transfer, and settle tokenized traditional assets. The tokenization platform allows for the movement of collateral nearly instantly as opposed to other methods used earlier.

The blockchain platform makes way for clients to access intraday liquidity through a secured repo transaction using tokenized collateral, rather than depending on expensive unsecured credit lines. External clients who agree to the blockchain trade have their own node using which they can settle the trade and access other reports.

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