JPMorgan Chase partners with Digital Asset Holdings to trial blockchain projectbr>
The pair are looking at several applications for the technology, including addressing liquidity mismatches in JPMorgan’s loan funds, which normally let investors take out their money at short notice — even though the underlying assets can require much more time to sell.
“To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks. Exploring alternatives through blockchain “makes all the sense in the world; it’s easier and faster operationally, and you get fewer mistakes,” said said Daniel Pinto, head of JPMorgan’s investment bank.
JPMorgan Chase & Co. is an American multinational banking and financial services holding company headquartered in New York City. Digital Asset Holdings is a startup trying to develop mainstream uses for blockchain technology.