{"id":506746,"date":"2022-11-04T23:05:00","date_gmt":"2022-11-04T20:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/"},"modified":"2022-11-04T23:05:00","modified_gmt":"2022-11-04T20:05:00","slug":"jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/","title":{"rendered":"# JP Morgan executes first DeFi trade on a public blockchain: Finance Redefined"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be7e6eef35\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be7e6eef35\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#%E2%80%9D_JP_Morgan_executes_first_DeFi_trade_on_a_public_blockchain_Finance_Redefined_%E2%80%9C\" >&#8221; JP Morgan executes first DeFi trade on a public blockchain: Finance Redefined   &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#JP_Morgan_executes_first_DeFi_trade_on_a_public_blockchain\" >JP Morgan executes first DeFi trade on a public blockchain<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#Bank_for_International_Settlements_will_test_DeFi_implementation_in_forex_CBDC_markets\" >Bank for International Settlements will test DeFi implementation in forex CBDC markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#Singapore_bank_DBS_uses_DeFi_to_trade_FX_and_state_securities\" >Singapore bank DBS uses DeFi to trade FX and state securities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#MakerDAO_co-founder_Nikolai_Mushegian_dies_at_29_in_Puerto_Rico\" >MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#Team_Finance_hacker_returns_7M_to_associated_projects_after_exploit\" >Team Finance hacker returns $7M to associated projects after exploit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\/#DeFi_market_overview\" >DeFi market overview<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_JP_Morgan_executes_first_DeFi_trade_on_a_public_blockchain_Finance_Redefined_%E2%80%9C\"><\/span>&#8221; JP Morgan executes first DeFi trade on a public blockchain: Finance Redefined   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYzE5YjY3MWUtZTY1Ny00Y2E5LTlmMWEtY2U1OTBlNGM0NmRlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter crafted to bring you significant developments over the last week.<\/p>\n<p>The first week of November proved to be the institutionalization of DeFi markets as major international banks and financial institutions executed and completed their first DeFi transaction.<\/p>\n<p>The global financial giant JP Morgan completed its first-ever cross-border transaction using DeFi on a public blockchain with the help of the Monetary Authority of Singapore\u2019s (MAS) Project Guardian. DBS Bank started a trading test of foreign exchange (FX) and government securities using permissioned DeFi liquidity pools.<\/p>\n<p>Apart from JP Morgan and DBS Bank, the Bank of International Settlements also said that automated market-making <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> in DeFi can serve as a \u201cbasis for a new generation of financial infrastructure.\u201d<\/p>\n<p>In other news, the Team Finance hacker returned $7 million of the $14.5 million stolen and intends to keep 10% of the stolen amount as a bounty. MakerDAO co-founder Nikolai Mushegian was found dead at 29 in Puerto Rico, which started several conspiracy theories.<\/p>\n<p>Looking at the weekly DeFi market performance, the majority of the DeFi tokens in the top 100 started the first week of November on a bullish note. The Fed rate hike helped a majority of the tokens to post double-digit weekly gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"JP_Morgan_executes_first_DeFi_trade_on_a_public_blockchain\"><\/span>JP Morgan executes first DeFi trade on a public blockchain<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Multinational banking firm JP Morgan has successfully executed its first-ever cross-border transaction using DeFi on a public blockchain. The trade was facilitated by the MAS\u2019 Project Guardian on Nov. 2.<\/p>\n<p>The pilot was another step into examining how traditional financial institutions can use tokenized assets and DeFi protocols to conduct financial transactions, among other use cases. <\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bank_for_International_Settlements_will_test_DeFi_implementation_in_forex_CBDC_markets\"><\/span>Bank for International Settlements will test DeFi implementation in forex CBDC markets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to a new announcement on Nov. 2, the Bank for International Settlements, or BIS \u2014 along with the central banks of France, Singapore and Switzerland \u2014 will embark on a new initiative dubbed \u201cProject Mariana\u201d in its exploration of blockchain technology. Project Mariana intends to use DeFi protocols to automate foreign exchange markets and settlements. <\/p>\n<p>This includes using DeFi protocols to stimulate the hypothetical exchange of cross-border transactions between the Swiss franc, euro and Singapore dollar wholesale central bank digital currencies, or CBDCs. <\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Singapore_bank_DBS_uses_DeFi_to_trade_FX_and_state_securities\"><\/span>Singapore bank DBS uses DeFi to trade FX and state securities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>DBS Bank, a major financial services group in Asia, is <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lying DeFi to a project backed by Singapore\u2019s central bank. DBS has started a trading test of FX and government securities using permissioned, or private, DeFi liquidity pools, the firm announced on Nov. 2.<\/p>\n<p>The development is part of Project Guardian, a collaborative cross-industry effort pioneered by the MAS. Conducted on a public blockchain, the trade included the purchase and sale of tokenized Singapore government securities, the Singapore dollar, Japanese government bonds and the Japanese yen.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"MakerDAO_co-founder_Nikolai_Mushegian_dies_at_29_in_Puerto_Rico\"><\/span>MakerDAO co-founder Nikolai Mushegian dies at 29 in Puerto Rico<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nikolai Mushegian, the co-founder of the cryptocurrency lending platform MakerDAO and decentralized Dai (DAI) stablecoin, was found dead in Puerto Rico last week.<\/p>\n<p>Mushegian died due to drowning after being dragged by sea currents on the Condado beach in San Juan, the local newspaper El Nuevo D\u00eda reported. Mushegian had no vital signs by the time his body was rescued. The Condado beach is considered one of the world\u2019s most dangerous places for swimmers, reportedly taking the lives of at least eight people in 2021.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Team_Finance_hacker_returns_7M_to_associated_projects_after_exploit\"><\/span>Team Finance hacker returns $7M to associated projects after exploit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Four projects have received some $7 million worth of tokens from the hacker behind the $14.5 million Team Finance exploit on Oct. 27. Over the weekend, the attacker confirmed in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of messages that they would keep 10% of the stolen fund as a bounty and return the other tokens to the affected projects.<\/p>\n<p>The exploiter \u2014 a self-described \u201cwhitehat\u201d \u2014 drained assets from Team Finance through the Uniswap v2-to-v3 migration<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"DeFi_market_overview\"><\/span>DeFi market overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analytical data reveals that DeFi\u2019s total value registered another weekly surge rising to $52 billion. Data from Cointelegraph Markets Pro and TradingView show that DeFi\u2019s top 100 tokens by market capitalization had a bullish week, with the majority of the tokens trading in the green on the 7-day chart.<\/p>\n<p>Fantom (FTM) was the biggest gainer over the past week with 25..38% surge, followed by Chainlink (LINK) with a 19.05% surge. The Graph (GRT) surged over 17%, while Basic Attention Token (BAT) registered a 15.66% weekly surge.<\/p>\n<p><em>Thanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/jp-morgan-executes-first-defi-trade-on-a-public-blockchain-finance-redefined\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; JP Morgan executes first DeFi trade on a public blockchain: Finance Redefined &#8220; Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a newsletter crafted to bring you significant developments over the last week. The first week of November proved to be the institutionalization of DeFi markets as major&#8230;<\/p>\n","protected":false},"author":1,"featured_media":506747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYzE5YjY3MWUtZTY1Ny00Y2E5LTlmMWEtY2U1OTBlNGM0NmRlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[77434,74868,74882,76700,95118,70944,70792,70934],"class_list":["post-506746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-dbs-bank","tag-defi","tag-hacks","tag-makerdao","tag-nft","tag-hackers","tag-jpmorgan-chase","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=506746"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/506747"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=506746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=506746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=506746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}