Deribit has announced the launch of the US Yield Coin (USYC) from Hashnote as a new yield-bearing cross-margin collateral option. USYC, an ERC-20 token backed by reverse repurchase agreements on U.S. Government Securities, provides traders with a stable and flexible collateral option that generates daily yield. The assets are secured in a segregated account at […]
The Central Bank of Nigeria has barred the use of foreign exchange as collateral for local currency loans. In its April 8 letter addressed to banks, the CBN warned of severe consequences for banks that fail to comply with the latest directive. Halting the Slide of the Naira Hamstrung by ongoing shortages of U.S. dollars, […]
Banking giant JPMorgan Chase has debuted its blockchain-based collateral settlement system. Blackrock became the first client to use JPMorgan’s Tokenized Collateral Network (TCN). The world’s largest asset manager used the system to convert shares in one of its money market funds into digital tokens, which it then used as collateral in an over-the-counter derivatives trade […]