EXCLUSIVE: jpmorgan’s head of digital assets TyLobban discusses the bank's plans to tokenize traditional financial assets. IanAllison123 reports
JPMorgan , the largest U.S. bank in terms of assets, remains steadfast on its roadmap for tokenizing traditional financial assets, largely undeterred by the current market and regulatory uncertainly blighting the public cryptocurrency markets.
Among the clients known to be using the Onyx-based repo service are Goldman Sachs, BNP Paribas and DBS Bank. Others have recently gone live and there’s a pipeline of about 15 banks and broker-dealers who are looking to sign up, Tyrone Lobban, head of Onyx Digital Assets, told CoinDesk in an interview.
“We think that tokenization is a killer app for traditional finance,” Lobban told CoinDesk. “If you think about private markets – private credit, private equity and private real estate – they are pretty much double the size of public markets, but many orders of magnitude less liquid, so there’s this huge disparity.
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