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JPMorgan’s Tokenized Collateral Network, or TCN, was used by BlackRock to turn shares in one of its money market funds into digital tokens, which were then transferred to Barclays as collateral for an over-the-counter derivatives trade between the two institutions.
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“Institutions on the network can use a wider scope of assets to meet any collateral requirements they have on the back of trading,” Bond said in an interview.
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