JPMorgan and DBS to jointly develop framework for tokenized deposits

JPMorgan and Singapore's DBS Bank announced they are developing a framework to allow institutional clients to transfer tokenized deposits across various blockchain networks. According to The Block, the two firms plan to build a structure that can process transfers between public and permissioned blockchains in real-time. The system will utilize Kinexys, a blockchain-based payment system developed by JPMorgan.