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JP Morgan executes first DeFi trade on a public blockchain: Finance Redefined

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The first week of November was all about traditional financial institutions and banking giants executing their first DeFi transaction, however, the week was also filled with conspiracy theories read more to know why!

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The global financial giant JP Morgan completed its first-ever cross-border transaction using DeFi on a public blockchain with the help of the Monetary Authority of Singapore’s Project Guardian. DBS Bank started a trading test of foreign exchange and government securities using permissioned DeFi liquidity pools.

In other news, the Team Finance hacker returned $7 million of the $14.5 million stolen and intends to keep 10% of the stolen amount as a bounty. MakerDAO co-founder Nikolai Mushegian was found dead at 29 in Puerto Rico, which started several conspiracy theories. The pilot was another step into examining how traditional financial institutions can use tokenized assets and DeFi protocols to conduct financial transactions, among other use cases.Bank for International Settlements will test DeFi implementation in forex CBDC markets

 

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So JP Morgan just rugged some people on uniswap?

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