**Breaking news:** 🏦 JPMorgan Chase & Co., the largest U.S. bank, employs its Tokenized Collateral Network (TCN) blockchain to facilitate collateral settlement between BlackRock, the world's largest asset management company, and Barclays, a British investment bank. This marks the first real-world application of JPMorgan's self-developed TCN. Tyrone Lobban, head of Onyx Digital Assets at JPMorgan, reveals that BlackRock converted shares of one of its money market funds (MMFs) into digital tokens, which were then used as collateral for over-the-counter derivatives trading with Barclays. TCN significantly reduces the collateral settlement process from an average of one day to nearly instant, offering more efficient asset management for institutional customers. The long-term goal is to enable customers to tokenize assets like stocks and bonds for enhanced collateral efficiency. 🌐💼💱 #BitcoinWorld 📈📊🔗