Tokenization is a process by which a physical asset or a right to an asset is converted into a digital token that can be traded on a blockchain. This has opened up a new way for businesses to leverage their illiquid assets and create new revenue streams. Tokenization can also help small and medium-sized businesses (SMEs) to access funding and grow their businesses. In this article, we will discuss the concept of tokenization, its benefits, and how SMEs can tokenize their assets and use them in the new financial system. What is Tokenization? Tokenization is the process of converting an asset, such as…
-
JPMorgan Chase Acquires First Republic Bank After Silicon Valley Bank Crisis
First Republic Bank was closed in just a few weeks, following the Silicon Valley Bank Crisis. Federal Deposit Insurance Corporation has announced that the bank will be shut down by the California Department of Financial Protection and Innovation. FDIC also purchased the assets of JPMorgan. The total assets and deposits of the bank exceed $330 Billion. In order to protect its depositors the FDIC has entered into an agreement with JPMorgan Chase Bank National Association in Columbus, Ohio, whereby it will buy all First Republic Bank deposits and assume substantially all assets. JPMorgan Chase has acquired all assets and deposits of FRB as well as…
Click Here To Read The Full Article
