the staff of the Ridgewood blog
Ridgewood NJ, After JPMorgan Chase & Co., CEO Jamie Dimon slammed ‘dangerous’ bitcoin as ‘decentralized Ponzi scheme’. The No. 1 U.S. bank and a charter member of Wall Street’s financial establishment, has gone DeFi. . JPMorgan’s Onyx unit recently executed live foreign exchange swaps of tokenized Japanese Yen and Singapore Dollars. The swaps were made as part of Project Guardian, an initiative backed by the Monetary Authority of Singapore that aims to explore DeFi applications in wholesale funding markets. Project Guardian is currently deployed on Polygon, but it will eventually be rolled out to other blockchain networks. It uses a modified version of Aave Arc.
Continue reading Despite CEO Calling Bitcoin a ‘decentralized Ponzi scheme’ JPMorgan Goes Crypto
