JPMorgan Using Blockchain to Move Billions in Repo-Market Trades
- Goldman has tested the system and will join in early 2021
- Repo cash now available in real time during the trading day
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JPMorgan Chase & Co. is using its custom blockchain to conduct intraday repurchase agreements totaling billions of dollars, an advance that’s helped persuade Goldman Sachs Group Inc. to join the new digital market early next year.
The repo trades swapped digitized U.S. Treasury bonds for JPM Coin, the blockchain-based representation of U.S. dollars held in the bank’s account.