One of the largest investment banks, JPMorgan Chase & Co, has implemented a trial run of a startup that uses the blockchain system. It is necessary for the implementation of the procedure for calculating debt transactions.

According to Bloomberg, test translations have been implemented. The first tranche passed on May 20. As a test, the creators organized the transfer of shares of a tokenized type of BlackRock fund for security. After the project is put into commercial use, the system will enable investors to apply a more extended list of funds for lending.

“The results that we have received are a quick transfer of resources for collateral without unnecessary problems and expectations. BlackRock has been a constant participant in this startup and has been researching the potential applications of the new technology since the beginning,” said Ben Challis, Director of Trading Processes.

The blockchain-based supply counting system has a high utility rate. For example, when implementing a trade in assets or when borrowing to secure assets. Also recently, the bank is thinking of expanding support for collateral with the help of tokens. Additionally, shares and other types of assets will be included. JPMorgan uses blockchain for trading with Goldman Sachs and BNP Paribas. This process began in the 20th year. To date, the volume of transfers has crossed the line of 300 billion dollars. Earlier, expert Caitlin Long said that JPMorgan was able to take the lead because of doubts from Goldman Sachs.