JPMorgan and DBS to Launch 24/7 Cross-Bank Token Payments
JPMorgan Chase & Co. and DBS Group Holdings Ltd. are pioneering a groundbreaking system for institutional cross-border payments using tokenized deposits. The collaboration links JPMorgan's Onyx Digital Assets platform with DBS's digital custody capabilities, enabling real-time settlements across both public and private blockchains.
The interoperability solution eliminates traditional banking hours constraints, offering clients continuous transaction capabilities. Rachel Chew, DBS Group COO, emphasized the strategic advantage of 24/7 liquidity in volatile markets: "Instant payments provide businesses with the optionality, agility and speed to navigate global uncertainties."
This initiative marks a significant leap in blockchain adoption by traditional finance institutions, potentially setting new standards for digital asset interoperability. The system's design accommodates both permissioned and public blockchain networks, reflecting growing institutional demand for hybrid infrastructure solutions.