Goldman Sachs has reportedly started trading on JPMorgan’s custom blockchain service for repo markets.
- Goldman, through its global head for digital assets Mathew McDermott, confirmed to have done the first transaction on June 17.
- Goldman was among the first financial institutions to recognize JPMorgan’s blockchain platform which was started last year
- The blockchain platform uses JPM Coin to swap digitized US Treasury bonds and has been hailed as critical in addressing real-world problems in the financial system.
JPMorgan made the first announcement of the launch of its own stablecoin in early 2019, with first trades taken in December.
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