Cross Border Payment Testing on JPMorgan Onyx Completed by FAB

FAB on JPMorgan Completes CrossBorder Payment Testing

Marking an achievement in the Middle East, JPMorgan’s Onyx Coin System with First Abu Dhabi Bank (FAB) successfully completed a blockchain-based cross-border payments project. A seamless execution and satisfactory response times demonstrated in the pilot phase. A similar test followed in Bahrain, where ABC bank tested Onyx which subsequently provided limited services. JPMorgan Blockchain is expanding presence globally, it possesses $1 Billion to $2 Billion daily. On 11 October first trade was settled by JPMorgan’s new Tokenization Collateral Network.