DBS, JPMorgan to develop interoperability framework for tokenized deposits
DBS and J.P. Morgan's Kinexys are creating a framework to enable tokenized deposit transfers between their respective blockchain systems.Summary
DBS from Singapore and J.P. Morgan's Kinexys are collaborating to build an interoperability framework designed to facilitate the transfer of tokenized deposits between their onchain ecosystems. This initiative aims to establish an interoperability layer allowing transactions across both public and permissioned networks, expanding client access to 24/7 liquidity and real-time settlement. Specifically, clients using JPM Deposit Tokens on Ethereum Layer 2 Base could potentially transact with those on DBS Token Services, which operates on a permissioned blockchain, overcoming traditional interoperability hurdles. This development aligns with a broader trend where global financial institutions, including BNY Mellon and major UK lenders, are actively exploring or piloting tokenized deposit services.
(Source：The Block)