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JP Morgan Conducts Blockchain-Based Repo Transaction

Emily Mason

Summary: JP Morgan announced on Thursday that the bank conducted a blockchain-based repo transaction leveraging the JPMorgan coin. The repo market is where banks go to borrow money from other financial institutions to cover operating costs. The repo market is known for operating slowly. JP Morgan's transaction was between its broker dealer and banking entity. Conducting ...

JP Morgan announced on Thursday that the bank conducted a blockchain-based repo transaction leveraging the JPMorgan coin.

The repo market is where banks go to borrow money from other financial institutions to cover operating costs. The repo market is known for operating slowly. JP Morgan's transaction was between its broker dealer and banking entity. Conducting the transaction on blockchain allowed for instantaneous settlement and maturity of the transaction in hours, rather than days. 

By Emily Mason

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