Brevan Howard Digital (BH Digital), the dedicated digital asset division of Brevan Howard, is the latest client of Onyx by JP Morgan. It’s using JPM Coin Systems to enable cross border programmable payments 24/7. Additionally, it plans to onboard partners that are part of the asset management ecosystem.
JP Morgan is the world’s biggest provider of US dollar accounts globally. JPM Coin is a blockchain-based bank account that allows JP Morgan clients to move money between their accounts held at JP Morgan branches around the world. That’s extremely useful for asset managers, ensuring they have the cash in the right place at the right time, instantly and on demand, with the added advantage of programmability.
“The team at Onyx by J.P. Morgan have created an excellent DLT use case, providing clear efficiency gains for fiat transfer rails,” said Gautam Sharma, CEO & CIO, BH Digital. “This offers huge potential across our business, and indeed the industry more broadly. In fact, we are already working to implement JPM Coin System with a number of our partners.”
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