The biggest US bank based on assets joined forces with the National Bank of Canada, among others, to develop an application based on its Quorum technology for debt issuance on the blockchain (corporate bonds, Treasury bonds, etc.) The test involved the issuance of $150 million of a one-year floating rate Yankee CD alongside a “simulation” of the issuance on the blockchain, according to the announcement. JPMorgan acted as the sole dealer.
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The Yankee COD attracted leading institutional investors including Goldman Sachs Asset Management (GSAM), pharmaceutical giant Pfizer and a Legg Mason subsidiary Western Asset...Click here to know the details story
AUTHOR
Gerelyn Terzo
