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JPMorgan tests blockchain for debt issuance

JPMorgan tests blockchain for debt issuance

April 20, 2018

Via: Finextra
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JPMorgan and National Bank of Canada (NBC) have carried out a debt issuance simulation using a new blockchain platform.

NBC issued a US$150 million, one-year floating-rate Yankee certificate of deposit, with a parallel simulation of the issuance using blockchain technology. Goldman Sachs Asset Management, Pfizer, and Western Asset were among the investors in the Yankee certificate of deposit.

The test saw the banks mirror the execution of the actual transaction through a debt issuance application developed by JPMorgan that runs on Quorum, an open-sourced variant of the Ethereum blockchain.

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