Tokenized Repo Moves Market Plumbing Toward Near-Instant Settlement
Major repo market participants are shifting core settlement infrastructure onto distributed ledgers, using tokenized cash and securities to compress settlement windows and reduce counterparty risk. The change marks a structural upgrade to financing-market plumbing, with platforms such as JPMorgan’s Kinexys, Broadridge’s DLR and the Canton Network already processing large volumes through pilots and early deployments.
XRP Ledger Pilot Links Treasury Redemption to Bank Settlement
The XRP Ledger processed the asset leg of a pilot tokenized U.S. Treasury redemption in under five seconds, triggering a coordinated fiat settlement through Mastercard’s Multi-Token Network and J.P. Morgan’s Kinexys. The test connected public-ledger finality with correspondent banking settlement, showing how institutional tokenized assets could move through a near-real-time, end-to-end redemption flow.
JPMorgan: Yield-bearing Stablecoins Risk a “Dangerous Parallel Banking System”
JPMorgan Chase CFO Jeremy Barnum warned on that yield-bearing stablecoins could “create a dangerous parallel banking system,” arguing they replicate deposit-like behavior without the prudential safeguards banks must carry.
JPMorgan launches tokenized money market fund on Ethereum as Wall Street moves onchain
JPMorgan Chase is taking another concrete step into blockchain-based finance, rolling out a tokenized money market fund on the Ethereum network. The initiative introduces the My OnChain Net Yield Fund, or MONY, seeded with an initial $100 million and framed as evidence that Wall Street is moving onchain. For observers tracking tokenization’s trajectory, a mainstream […]