JP Morgan Expands Blockchain Footprint with 6 Indian Banks Joining Onyx

With a bold move towards technological innovation multinational banking giant JP Morgan has enlisted the participation of six prominent Indian banks in its Onyx blockchain project . HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and JP Morgan’s local business in Gujarat are set to embark on a pilot project and aim to revolutionize real-time transactions in the realm of cryptocurrencies .
Onyx Blockchain Pilot Project Seeks to Enable 24/7 Real-Time Transactions
JP Morgan’s Onyx blockchain which follows the success of their initial blockchain venture Quorum, is now being put to the test by the collaborative efforts of six leading Indian banks . The primary objective of this pilot project is to facilitate round-the-clock real-time transactions and leverage the power of blockchain technology . While traditionally associated with cryptocurrency networks these transactions will be limited to US dollars and align with regulatory frameworks and the financial landscape in India .

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