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JPMorgan debuts commercial trade on TCN, not on Ethereum

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Banking giant JPMorgan Chase & Co., which launched its Tokenized Collateral Network (TCN) this week, has made its maiden commercial application. Bloom

JPMorgan settled a transaction using its Tokenized Collateral Network . TCN's instant collateral settlement process challenges the industry norm, changing blockchain-based commercial transactions. JPMorgan's ambitious vision for TCN includes expanding its application to a wider array of assets, challenging Ethereum’s application in the banking sphere. berg reported that the bank made a collateral settlement between BlackRock and Barclays on its blockchain network on Wednesday.

JPMorgan has gone live with its first collateral settlement for clients using blockchain, as the largest US bank by assets pushes ahead with commercial applications built on the technology at crypto’s core https://t.co/AQrIFxRR5r — Bloomberg Crypto October 11, 2023 JPM boasts of TCN's speed against traditional collateral settlement systems. A standard settlement process can take up to a day to complete. This can set a precedent for commercial transactions on blockchain by instant settlement.

 

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