The biggest US bank, JPMorgan Chase & Co tested a new blockchain platform for issuing financial instruments together with the National Bank of and other giant firms seeking to streamline origination, interest rate payments, settlement and many more processes.
The test involved issuance of $150 million of a one-year floating rate Yankee COD together with a “simulation” of the issuance on the blockchain as per the announcement. The Yankee COD allured other leading institutional investors which includes Goldman Sachs Asset Management (GSAM), a Legg Mason subsidiary Western Asset and Pharmaceutical giant Pfizer.
Read the details in the article of Coinidol dot com, the world blockchain news outlet:
https://coinidol.com/jpmorgan-test-blockchain-debt-issuance/
