JPMorgan Chase & Co. launched Black Rock’s first blockchain-based collateral settlement.

JPMorgan Chase & Co. has implemented the first blockchain-based collateral settlement for the world's largest asset manager, BlackRock. The bank utilized its Tokenized Collateral Network (TCN) to convert money market fund shares into digital tokens. The tokens were then sent to Barclays Plc as collateral for an OTC derivatives transaction.
Investors can use assets as collateral without actually transferring them thanks to the TCN application, which JPMorgan's Onyx division created. Utilizing blockchain technology increases productivity and frees up capital for ongoing transactions.

TCN = JPMorgan’s Tokenized Collateral Network
OTC = over-the-counter trading