JPMorgan Leads the Way with First Live Blockchain Collateral Transaction

This swift tokenization process, which occurred within minutes through seamless connectivity between the fund's Transfer Agent and TCN, marks a groundbreaking achievement for BlackRock, J.P. Morgan, and Barclays.

It signifies a novel approach to using money market fund shares as collateral between bilateral derivatives counterparties.

Tyrone Lobban, JPMorgan's Head of Onyx Digital Assets, highlighted the advantages of this innovation: "Onyx Digital Assets already enables clients to access intraday liquidity via repo transactions. Now with the launch of TCN, clients can benefit from additional utility from their MMF investments by posting tokenized MMF shares as collateral—a faster, more cost-effective way of meeting margin requirements."