JPMorgan conducted the Defi test transaction using Polygon blockchain – Bits Media

JPMorgan Chase bank & Co has tokenized 100 000 Singapore dollars (about $71 000), and then exchanged them for tokenized yen with the Japanese financial group SBI Digital Asset.

The test transaction was made as part of the Guardian pilot project, The initiator of which is Monetary control of Singapore (BUT). For the experiment, infrastructure was used, designed on the basis of the Polygon blockchain and a modified version of the Defi Aave project.

Financial companies with Wall Street are actively studying the possibilities of using blockchain in their business, eg, For intraday reverse ransom - short -term borrowing with fixed income - and cross -border transactions.

However, the scope of their interests is concentrated on private blockchains, which require users to obtain permission to join. At the same time, public blockchains can potentially eliminate such problems, as isolated or fragmented liquidity.

Recall, that earlier the Singapore Bank DBS began testing the trading of tokenized government securities as part of the Guardian project, organized MAS.