Tag Archives: jpmorgan

JPMorgan’s managing director Tyrone Lobban noted that the new system has processed over $900 billion in assets since launch. Top executives from US-based financial services companies JPMorgan Chase and Apollo Global Management have revealed their plans for the tokenized enterprise mainnet, developed in collaboration with the Monetary Authority of Singapore (MAS). The duo worked together on the MAS crypto pilot project, Project Guardian, designed to explore the tokenization of assets using...

The retiring MAS director believes the future monetary system will revolve around CBDCs, tokenized bank liabilities, and stablecoins. The Director of the Monetary Authority of Singapore (MAS), Ravi Menon, has emphasized that private cryptocurrencies have no future. Menon shared his thoughts as a panelist at an event jointly hosted by the Hong Kong Monetary Authority and the Bank for International Settlements. Earlier, Mr Menon, who spearheaded the fintech revolution in Singapore, announced...

If the entire $2.7 billion exits the bitcoin market, it would exert significant downward pressure on bitcoin prices, the authors stated. However, if most of this $2.7 billion transitions into other bitcoin instruments, such as the newly established spot bitcoin ETFs post SEC approval, the negative market impact would be more moderate. Nevertheless, the bank indicated that Bitcoin continues to face downside risks, as some of the $2.7 billion is likely to exit the Bitcoin space completely. The...

The third amendment is another attempt for ARK Invest to ensure that the proposal for the ARK 21Shares spot Bitcoin ETF will pass the SEC’s screening. ARK Investment Management has submitted another amendment to the US SEC for its ARK 21Shares spot Bitcoin ETF proposal. The application, created along with European crypto asset manager 21Shares, is one of several proposals gunning for SEC approval as soon as possible. ARK Investment Management was founded by Cathie Wood, a known Bitcoin...

As part of the partnership, the LayerZero Labs to connect Onyx with a permissioned Avalanche Evergreen Subnet, enabling seamless subscriptions and redemptions for funds offered by WisdomTree Prime. As the altcoin market buzzes with strong activity, Avalanche’s native cryptocurrency AVAX has registered a staggering 25% gain in the last 24 hours, with its price surpassing $22.57. The latest AVAX price rally comes on the backdrop of strong developments within the Avalanche ecosystem. In a...

The move by JPMorgan and Apollo comes at a time when various traditional finance institutions are increasingly expressing interest in blockchain technology. In a groundbreaking move, traditional finance titans JPMorgan Chase & Co (NYSE: JPM) and Apollo Global Management Ord Shs (NYSE: APO) has successfully collaborated with blockchain firms to demonstrate a “proof of concept” for tokenization of funds on a blockchain platform of choice. The collaboration, which is part of Project...

HSBC, which is one of the largest banks in the world, revealed that for now, its custody plans involve “tokenized securities issued on third-party platforms.” HSBC Holdings (LSE: HSBA), in partnership with Ripple Labs subsidiary Metaco, has announced plans to launch a digital assets custody service for institutional clients. The service will offer custody for assets such as tokenized securities and is expected to launch next year. It will complement HSBC’s Orion digital assets issuance...

A federal court may formalize the ruling on Grayscale’s ETF today, officially vacating the SEC’s refusal to convert the GBTC. A federal court is set to formalize Grayscale Investments’ victory over the United States Securities and Exchange Commission (SEC) over the firm’s conversion of the GBTC into a spot Bitcoin exchange-traded fund (ETF). Closing the case will legally establish Grayscale’s win, especially as the SEC chose not to appeal the ruling. Court to Formalize Grayscale Ruling...

JPMorgan figures for Q3 2023 exceeded expectations like it did in Q2. However, figures like revenue and EPS were higher last quarter. JPMorgan Chase (NYSE: JPM) has published an earnings report for the year’s third quarter. The reported figures show that JPMorgan scaled analysts expectations for profit in Q3 2023. JPMorgan Q3 2023 JPMorgan reported earnings per share (EPS) at $4.33 for the quarter, higher than the estimated $3.86. The bank also said its profit jumped to $13.15 billion,...

The move signals a major stride on the part of JPMorgan as it intensifies its efforts towards boosting the commercial applications of blockchain technology. United States’ largest bank by assets, JPMorgan Chase & Co may have started using its blockchain-based collateral settlement for customers. This follows after a recent transaction between BlackRock Inc and Barclays Plc saw the duo use JPMorgan’s Tokenized Collateral Network (TCN) to effect the trade. According to Tyrone Lobban,...