JPMorgan Using Blockchain to Move Billions in Repo-Market Trades

JPMorgan Chase & Co. is using its custom blockchain to conduct intraday repurchase agreements totaling billions of dollars, an advance that’s helped persuade Goldman Sachs Group Inc. to join the new digital market early next year.

The repo trades swapped digitized U.S. Treasury bonds for JPM Coin, the blockchain-based representation of U.S. dollars held in the bank’s account.

“We’re at the point where we can offer this product to our customers,” Scott Lucas, head of markets for distributed-ledger technology at JPMorgan, said in an interview. Other banks and broker-dealers are expected to join Goldman in signing up for the JPMorgan ...