First Abu Dhabi Bank announced that it has completed a pilot project using JPMorgan’s Coin Systems distributed ledger for cross-border payments.
JPMorgan’s Onyx Coin Systems has scored another win in the Middle East with the completion of a blockchain-based cross-border payments pilot project with First Abu Dhabi Bank . The pilot phase was “executed seamlessly with satisfactory response times,”and proceeded to a limited launch of services. FAB said it was continuing to explore the opportunities the system offers.
JPMorgan’s permissioned distributed ledger was launched in 2020 and has been gaining momentum in recent months. JP Morgan Onyx Digital Assets & Blockchain head Tyrone LobbanFirst Abu Dhabi Bank has announced the successful completion of its J.P Morgan’s Coin blockchain based cross border payments.was settled on JPMorgan’s new
Tokenization Collateral Network, which also runs on the Onyx blockchain. Money market fund shares were tokenized and deposited at Barclays Bank as security for a derivatives exchange between JPMorgan and BlackRock.in Project Guardian, with DBS Bank and Marketnode. The project, which concluded in June, was developed by the Monetary Authority of Singapore and Bank for International Settlements.
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