JPMorgan looks to save millions with blockchain-based financial instruments

20 million dollars. 

“It’s not massive in the grand scheme of things,” says Tyrone Lobban, “but it’s not immaterial either.”

When JPMorgan deals with 10 trillion dollars in traditional payment flows on a given day, 20 million looks like a pretty small number in comparison. But it’s certainly not a bad start for clients looking to save on financial services.

One such service is a “repo,” or repurchase agreement. It’s a standard financial instrument that JPMorgan provides, allowing clients to enter into a “borrowing facility.”

But a repo is not something that can normally settle on the same day, Lobban says. “I can’t give you assets as collateral and you give me cash and at the end of the day, we do the reverse.”