JPMorgan Joins BIS Blockchain Pilot to Speed Up Cross-Border Payments

JPMorgan has been involved in a pilot project to settle tokenized payments using blockchain technology. The Bank for International Settlements (BIS) has partnered with JPMorgan to test the feasibility of this system.

In the pilot, banks were able to settle tokenized payments, which could potentially reduce settlement times and costs.

The BIS is an international financial institution that serves as a bank for central banks. Its involvement in the project suggests that it sees promise in blockchain technology for settling cross-border payments.