JPMorgan first DeFi transaction executed on Polygon!

JPMorgan executed their first trade live on the public blockchain as part of the Monetary Authority of Singapore (MAS) Project Guardian.

The global financial leader completed the transaction using DeFi, Tokenized Deposits, and Verifiable Credentials.

Project Guardian is

Project Guardian is a collaborative initiative with the financial industry (J.P. Morgan) that seeks to test the feasibility of applications in asset tokenization and DeFi while managing risks to financial stability and integrity.

The pilot program saw DBS Bank, JPMorgan, and SBI Digital Asset Holdings conduct foreign exchange and government bond transactions against liquidity pools containing tokenized Singapore, Japanese government bonds, Japanese Yen, and Singapore dollars.

The participants completed a cross-currency transaction involving tokenized Japanese Yen and Singapore Dollar deposits. They also conducted a simulated trade of tokenized government bonds.

According to Singapore’s central bank, “The live transactions executed under the first pilot demonstrate that cross-currency transactions of tokenized assets can be traded, cleared, and settled instantaneously among direct participants.”

JPMorgan first DeFi transaction executed on Polygon!

Creative solutions for your project or business

Book Your Next Project

Your Information
Project Information
Additional Information