BNP Paribas has joined JPMorgan in using digital tokens for short-term trading in fixed-income markets as some of the world’s biggest investment banks step up efforts to modernize the $12t market with blockchain technology. JPMorgan’s blockchain allows banks to lend out US government bonds for a few hours as collateral, without the bonds leaving their balance sheets.
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Banks turn to blockchain in search for high-quality trading assets
“This is not just proof-of-concept work, we see this as part of our efforts to utilise the technology for the whole trading and operations lifecycle as the market evolves,” he added.
