An important step has just taken place in the relationship between traditional finance and the cryptocurrency market: JPMorgan – one of the largest banks in the U.S. – has held a direct meeting with the SEC to discuss transitioning financial activities to blockchain.
The meeting included the participation of the Crypto Task Force team from the SEC and three senior leaders from #JPMorgan , including Scott Lucas, Justin Cohen, and Aaron Iovine, highlighting this bank's seriousness in shaping the future of on-chain finance.
At the meeting, JPMorgan has:
Present a digital platform specifically handling repo contracts – a type of short-term loan common in financial markets, currently operating on an internal blockchain platform.
Discuss the direction of asset tokenization, and how to leverage this technology to create competitive advantages through increased transaction speed, reduced costs, and new revenue models.
Emphasize a long-term strategy aimed at a capital market that operates entirely on a public blockchain, rather than traditional centralized systems.
This is a clear sign that major financial institutions are no longer standing on the sidelines of the crypto market, but are actively preparing infrastructure and policies to ride the wave of decentralized finance.
With JPMorgan leading the trend, the crypto market is entering a strong consolidation phase with traditional finance – opening a new era for both the banking industry and blockchain technology.
⚠️ The cryptocurrency market always carries risks and is not suitable for everyone. Investors need to exercise caution and conduct thorough research before making decisions. #anhbacong