11 months ago
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JPMorgan (JPM) has teamed up with six Indian banks to settee interbank dollar transactions connected its blockchain-based trading platform, Onyx, Bloomberg reported connected Monday.
The concern slope volition tally a aviator task implicit the coming months alongside HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and JPM's ain banking portion successful Gujurat, India.
The purpose of the project, which starts today, is to settee dollar trades successful existent clip astir the timepiece arsenic opposed to implicit a substance of days and lone during the moving week. Onyx, established successful 2020, is the banking giant's integer assets web for settling wholesale outgo transactions.
The office for the task is the Gujurat International Finance Tec-City, oregon GIFT City, which is India's effort to found an planetary concern hub to rival the likes of Singapore and Dubai.
JPMorgan did not instantly respond to CoinDesk's petition for comment.
Edited by Sheldon Reback.
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