JPMorgan Crypto Strategy Revealed | Tyrone Lobban
In this episode of Empire, Tyrone Lobban, Head of Onyx Digital Assets from JPMorgan Chase joins us to dive into how traditional financial institutions are adopting onchain capabilities. They explore Onyx digital assets goal, project guardian's aim to unlock institutional access to DeFi, and how JPM views blockchain.
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Timestamps:
(00:00) What is Onyx?
(08:43) 4 Aspects of Onyx
(22:10) USDC and Stablecoin Market
(26:24) Project Guardian & DeFi Interaction
(34:24) Vouch ad
(35:34) Rights and Wrongs in Crypto
(42:30) ETF Approval
(47:59) JPMorgan Crypto Buy-in
(49:22) Onyx Hackathon
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Resources
Institutional DeFi
https://www.jpmorgan.com/onyx/content-hub/institutional-defi.htm
Digital Identity
https://www.jpmorgan.com/onyx/content-hub/digital-identity-in-web3.htm#second-article
Onyx Digital Assets
https://www.jpmorgan.com/onyx/onyx-digital-assets.htm
JPM Coollateral Settlement
https://www.bloomberg.com/news/articles/2022-05-26/jpmorgan-finds-new-use-for-blockchain-in-collateral-settlement?leadSource=uverify%20wall
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Onyx's Tyrone Lobban Takes Us Behind the Scenes of JP Morgan's First DeFi Trade
This week on The Defiant Podcast we speak with Tyrone Lobban, the head of blockchain at JPMorgan’s Onyx, a business unit focused on digital assets.
In the craziness of the past couple weeks, it’s easy to overlook or forget good news and positive developments. JP Morgan recently made history by becoming the first major bank to execute a live DeFi trade. The trade involved tokenized forex and government bonds and it all happened on the Polygon blockchain.
In our conversation, we dive into the details of the trade and discuss the implications of major banks like JP Morgan and the rest of TradFi using DeFi, and start by getting a better understanding of Onyx.
JP Morgan’s first DeFi transaction took place on 2 November 2022 and was facilitated by Project Guardian, a pilot initiative of the Monetary Authority of Singapore. The trade had a lot of moving pieces and was rather complex. Tyrone takes us behind the scenes and walks us through the steps taken to ensure adherence to KYC/AML standards.
Due to regulatory and privacy concerns, JPMorgan is currently running its DeFi experiments on a permissioned sidechain. We discuss the likelihood of a shift from private infrastructure to a public blockchain.
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