More Than 15 Major Banks Build Tokenized Finance on Private Blockchains, JPMorgan Says

More than 15 major banks are developing tokenized finance systems on private blockchains, and JPMorgan said this shift could pose a bigger long-term threat to Bitcoin than Strategy. According to NS3.AI, JPMorgan highlighted activity on its Kinexys platform, which has processed more than $3 trillion since inception and currently clears over $7 billion per day. Separately, DeFiLlama data showed Canton generated about $60 million in the 30 days to late June, compared with $11 million for Ethereum.