First Abu Dhabi Bank completes cross-border payments testing on JPMorgan Onyx
The FAB pilot follows Bank ABC’s in Bahrain. JPMorgan also just launched its Tokenization Collateral Network on Onyx. JPMorgan’s Onyx Coin Systems has scored another win in the Middle East with the completion of a blockchain-based cross-border payments pilot project with First Abu Dhabi Bank (FAB). The pilot phase was “executed seamlessly with satisfactory response times,” according to a statement. The FAB pilot wound up weeks after a similar test in Bahrain, where Bank ABC had been testing the Onyx system and proceeded to a limited launch of services. FAB said it was continuing to explore the opportunities the system offers. JPMorgan’s permissioned distributed ledger was launched in 2020 and has been gaining momentum in recent months. JP Morgan Onyx Digital Assets & Blockchain head Tyrone Lobban said earlier this month the platform currently processes between $1 billion and $2 billion a day. FAB Bank completes blockchain # payments pilot with J.P. Morgan:#UAE First Abu Dhabi B...