DBS and JPMorgan Chase Developing Framework for Cross-Blockchain Tokenized Deposits

DBS Bank and JPMorgan Chase’s blockchain department Kinexys are developing a framework to support tokenized deposits utilizing multiple blockchains.

This initiative aims to enable seamless exchanges between DBS Token Services and Kinexys Digital Payments, spanning public and permissioned networks.

The platform would allow institutional clients from both banks to conduct cross-border payments with 24/7 real-time settlement.

For instance, a J.P. Morgan client could pay a DBS client using J.P. Morgan Deposit Tokens on the Base blockchain, with the recipient redeeming equivalent value through DBS.

The process would be designed to uphold the singleness of money, ensuring tokenised deposits remain fungible across issuers and chains.

So far, the banks have not released any target dates for launch or schedules related to the development of the interoperability framework.

 

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