Blockchain adoption ‘accelerating very quickly’ in big finance — Franklin Templeton exec


Major financial firms like JPMorgan and the Hong Kong and Shanghai Banking Corporation (HSBC) have ramped up their blockchain-related activities heading into 2024, accelerating the adoption of distributed ledger technology (DLT) within traditional finance.

On Nov. 3, JPMorgan executed its first decentralized finance (DeFi) trade on a public blockchain. The company rolled out programmable payments for its institutional blockchain platform, JPM Coin, on Nov. 10. Executives from JPMorgan and Apollo also unveiled plans for a tokenized enterprise mainnet on Nov. 28.

Apart from JPMorgan, HSBC has also been on the move. On Nov. 1, HSBC and financial services provider Ant Group tested tokenized deposits under a sandbox arranged by the Hong Kong Monetary Authority. Meanwhile, HSBC partnered with Metaco, a Ripple-owned tech firm, on Nov. 8 to hold tokenized securities on its new custody platform.

Interest from major financial companies shows that the potential of DLT is slowly overtaking the previous skepticism surrounding it. Cited in a Bloomberg report, Sandy Kaul, an executive at asset manager Franklin Templeton, said that the “adoption of the technology is actually accelerating very quickly.” Kaul also stated that a pathway to reengineering the global financial markets can be seen for the first time.

Franklin Templeton is one of several asset managers applying for a spot Bitcoin exchange-traded fund. On Sept. 12, the firm applied for a spot Bitcoin ETF with the United States Securities and Exchange Commission (SEC).

While others make big moves into blockchain, some choose to stay small and build into it. Alex Holmes, the CEO of MoneyGram, also said in an interview with Bloomberg that only about 20 of its employees are dedicated to its blockchain efforts full-time. “It’s somewhat proportional to the expectations around some of the revenue and profitability,” he said.

Source : Cointelegraph by Ezra Reguerra / Dec 19, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.