{"id":26834,"date":"2023-12-19T10:27:12","date_gmt":"2023-12-19T10:27:12","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/blockchain-adoption-accelerating-very-quickly-in-big-finance-franklin-templeton-exec\/"},"modified":"2023-12-19T10:27:14","modified_gmt":"2023-12-19T10:27:14","slug":"blockchain-adoption-accelerating-very-quickly-in-big-finance-franklin-templeton-exec","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/blockchain-adoption-accelerating-very-quickly-in-big-finance-franklin-templeton-exec\/","title":{"rendered":"Blockchain adoption \u2018accelerating very quickly\u2019 in big finance \u2014 Franklin Templeton exec"},"content":{"rendered":"

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Major financial firms like JPMorgan and the Hong Kong and Shanghai Banking Corporation (HSBC) have ramped up their blockchain-related activities heading into 2024, accelerating the adoption of distributed ledger technology (DLT) within traditional finance.\u00a0<\/p>\n

On Nov. 3, JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain. The company rolled out programmable payments for its institutional blockchain platform, JPM Coin, on Nov. 10. Executives from JPMorgan and Apollo also unveiled plans for a tokenized enterprise mainnet on Nov. 28.\u00a0<\/p>\n

Apart from JPMorgan, HSBC has also been on the move. On Nov. 1, HSBC and financial services provider Ant Group tested tokenized deposits under a sandbox arranged by the Hong Kong Monetary Authority. Meanwhile, HSBC partnered with Metaco, a Ripple-owned tech firm, on Nov. 8 to hold tokenized securities on its new custody platform.\u00a0<\/p>\n

Interest from major financial companies shows that the potential of DLT is slowly overtaking the previous skepticism surrounding it. Cited in a Bloomberg report, Sandy Kaul, an executive at asset manager Franklin Templeton, said that the \u201cadoption of the technology is actually accelerating very quickly.\u201d Kaul also stated that a pathway to reengineering the global financial markets can be seen for the first time.\u00a0<\/p>\n

Franklin Templeton is one of several asset managers applying for a spot Bitcoin exchange-traded fund. On Sept. 12, the firm applied for a spot Bitcoin ETF with the United States Securities and Exchange Commission (SEC).<\/p>\n

Related: <\/em><\/strong>US corporate interest in crypto strong despite implementation hurdles<\/em><\/strong><\/p>\n

While others make big moves into blockchain, some choose to stay small and build into it. Alex Holmes, the CEO of MoneyGram, also said in an interview with Bloomberg that only about 20 of its employees are dedicated to its blockchain efforts full-time. \u201cIt\u2019s somewhat proportional to the expectations around some of the revenue and profitability,\u201d he said.<\/p>\n

Magazine: <\/em><\/strong>BlackRock revises BTC ETF filing, El Salvador\u2019s crypto citizenship trending, and more: Hodler\u2019s Digest<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Major financial firms like JPMorgan and the Hong Kong and Shanghai Banking Corporation (HSBC) have ramped up their blockchain-related activities heading into 2024, accelerating the adoption of distributed ledger technology (DLT) within traditional finance.\u00a0 On Nov. 3, JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain. The company rolled out programmable payments […]<\/p>\n","protected":false},"author":1,"featured_media":26835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-26834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\nBlockchain adoption \u2018accelerating very quickly\u2019 in big finance \u2014 Franklin Templeton exec | NFT & Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/blockchain-adoption-accelerating-very-quickly-in-big-finance-franklin-templeton-exec\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain adoption \u2018accelerating very quickly\u2019 in big finance \u2014 Franklin Templeton exec | NFT & Crypto News\" \/>\n<meta property=\"og:description\" content=\"Major financial firms like JPMorgan and the Hong Kong and Shanghai Banking Corporation (HSBC) have ramped up their blockchain-related activities heading into 2024, accelerating the adoption of distributed ledger technology (DLT) within traditional finance.\u00a0 On Nov. 3, JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain. 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