JP Morgan Chase has executed its first-ever cross-border transaction using DeFi on a public blockchain, and it is a milestone to say the least for this bank who keeps flip flopping on it’s stance on crypto via their CEO Jamie Dimon. The trade was done through the Monetary Authority of Singapore’s (MAS) Project Guardian on Polygon on November 2nd, and was deemed a success. This was a pilot program which tested the use of tokens by a TradFi outfit to see how transactions can happen between the two entities, amongst other use cases.

The first image in this post says it all. Even as CEO Jamie Dimon loves to sucker punch crypto overall, his bank can’t miss opportunities in an areas where their investors can make money so they forge on, hoping to capture some revenue from this new endeavor. God Speed, JPMC. As for Jamie, meh.

Written by: nikethereum.eth / Medium / Mirror