JP Morgan reveals its institutional-grade DeFi plans.

June 13, 2022

Tyrone Lobban, head of Onyx Digital Assets at JPMorgan revealed institutional-grade DeFi plans.

Tokenizing US Treasuries, money market fund shares could all potentially be used as collateral in DeFi pools, Lobban noted.

“The overall goal is to bring these trillions of dollars of assets into DeFi,” JP Morgan executive said at the Consensus 2022 in Austin, Texas.

JP Morgan aims to use these new mechanisms for trading, borrowing and lending, but with the scale of institutional assets, Lobban stated.

JPMorgan’s blockchain-based collateral settlement system was extended last month to include tokenized versions of BlackRock’s money market fund shares.

These applications are settled in the bank’s in-house digital token JPM Coin, which has had $350 billion in trading volume, Lobban revealed.

The bank is also a part of a DeFi pilot that is being led by the Monetary Authority of Singapore.