STO and Digital Assets

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JPM Coin debut marks start of blockchain’s value-driven adoption cycle

JPMorgan is one of the largest players operating within the global payments landscape, with the firm reportedly facilitating transfers in excess of $6 trillion across more than 100 countries on a daily basis.

  • The token is designed to facilitate JPMorgan Chase’s various cross-border monetary transactions.
  • A solution that could potentially save the global finance industry hundreds of millions of dollars in peripheral costs such as processing charges, high tax fees and more.

What does matter a great deal is that for business to business payments, if you can make payments a part of a fully digital business contract, you can hugely reduce the cost of running a cross-border deal for enterprises, and that is quite revolutionary.

Business value:

  • settlement mechanisms for trade finance
  • supply chain traceability
  • KYC and regulatory compliance

Onyx, JP Morgan’s new business outfit, reportedly has more than 100 staff members and has been established with the goal of commercializing JP Morgan’s various envisioned blockchain and crypto projects, moving existing ideas from their research and development phase to something more tangible.

On Oct. 28, the bank announced that it was going to rebrand its blockchain-based Interbank Information Network, or IIN, to “Liink” as well as introduce two new applications — Confirm and Format — that have been developed for specific purposes of account validation and fraud elimination for its clients. Liink will be a part of the Onyx ecosystem and will enable participants (over 400 financial institutions) to collaborate with one another in a seamless fashion.

Using a DLT as the settlement layer rather than relying upon human audits and regulatory trust.

SEC-approved crypto IPO issuer INX acquires STO platform OpenFinance

  • trust infrastructure
  • single point of truth
  • IOTA’s zero-fee transactions on IOTA Tangle
  • functional rules-based order secured through deterministic computation

INX is set to acquire OpenFinance’s broker-dealer and alternative trading system business including its systems, digital asset listings, client base and licenses.

The latest news comes amid the INX’s ongoing initial public offering, or IPO, registered with the United States Securities and Exchange Commission.

Launched in August 2020, the $117 million IPO claims to be the first-ever security token IPO that is registered with the SEC.

Starting from Sept. 14, INX’s IPO has been accepting major cryptocurrencies like Bitcoin (BTC) and Ether (ETH).

https://cointelegraph.com/news/sec-approved-crypto-ipo-issuer-inx-acquires-sto-platform-openfinance