In a pilot exploring the potential of DeFi applications in wholesale finance markets, the Monetary Authority of Singapore (MAS) completed a cross-currency transaction involving tokenized Japanese yen and Singapore dollar deposits. According to a tweet by Ty Lobban of JPMorgan, the global investment firm utilized Polygon first to choose Ethereum because of its cheap fees, which were required to lower operating expenses related to verification. It then installed a customized version of Aave Arc in order to deploy specified parameters, leveraging the notion of the permissioned pool from Aave. WORLD! J.P. Morgan has executed its 1st *LIVE* trade on public The post Singapore Uses Polygon and Aave in Initial DeFi Wholesale Markets Deal appeared first on Cryptoknowmics-Crypto News and Media Platform.
