JPMorgan will launch a blockchain-based platform in India to optimize interbank dollar transactions for the international financial center

ChainCatcher news, JPMorgan Chase has partnered with six Indian banks to launch a blockchain-based platform for settling interbank dollar transactions in the country's latest international financial hub, which will enable the bank to process transactions faster and enhance the transparency and security of transactions.

Kaustubh Kulkarni, JPMorgan's senior official in India and vice chairman for the Asia-Pacific region, stated, "We will conduct pilot projects in the coming months as we need to analyze the banks' experiences."

Reportedly, these banks include private banks such as HDFC Bank Ltd., ICICI Bank Ltd., Axis Bank Ltd., Yes Bank Ltd., and IndusInd Bank Ltd., as well as JPMorgan's banking division in GIFT City. (Source link)