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JPMorgan launches an on-chain repurchase solution based on the Kinexys Blockchain.
PANews, August 7 - According to The Block, JPMorgan has launched an on-chain intraday repurchase (repo) solution based on its self-developed Kinexys Blockchain network. This tool allows traders to exchange cash for securities on the HQLAx platform through JPMorgan's Blockchain deposit account, enabling minute-level settlement. The product was developed with the assistance of HQLA-X and Ownera, and has achieved a daily trading volume of up to $1 billion. The platform also supports multiple trading venues, sources of Collateral, and future expansion to stablecoins, Central Bank Digital Currencies, and other Digital Cash tools.