Broadridge Offers JPM Coin for DLR Settlement

Onyx, J.P. Morgan’s blockchain business unit, and Broadridge, a global fintech leader, are collaborating to offer JPM Coin as the settlement mechanism for Broadridge’s DLR (Distributed Ledger Repo) platform. JPM Coin will complement DLR’s repo capabilities, which offer intra-day repo in addition to the current overnight and term repo capabilities prevalent in the market. The two firms have successfully tested use of JPM Coin with DLR, and it is anticipated that JPM Coin will be available to Broadridge users as a settlement solution by June 2024.