JPMorgan (JPM) and DBS Bank (D05) Team Up on Cross-Border Tokenised Deposit Framework
JPMorgan and DBS Bank are creating a framework to link their tokenized deposit systems for 24/7 cross-border settlements.Summary
JPMorgan and Singapore’s DBS Bank are collaborating on a framework to enable institutional clients to move tokenized deposits across different blockchain networks. This system will integrate DBS Token Services with JPMorgan's Kinexys Digital Payments project, facilitating cross-bank and cross-chain settlements without relying on traditional payment rails. Naveen Mallela of JPMorgan stated this collaboration exemplifies how financial institutions can advance tokenized deposits while ensuring interoperability. The tie-up would allow a JPMorgan client using deposit tokens on a public ledger like Coinbase's Base blockchain to pay a DBS client, who could then redeem or hold those tokens on the DBS platform. This initiative reflects a broader industry trend, as roughly one-third of global banks are exploring tokenized deposit projects.
(Source：CoinDesk)