BNP Paribas became part of the Onyx blockchain platform
The largest French banking giant BNP Paribas (2nd largest in Europe) has joined the Onyx blockchain platform aimed at the exchange of information, values and digital assets.
BNP Paribas follows in the footsteps of Goldman Sachs, which began using Onyx in June 2021. Today, on this platform, approved users (banks) can receive a short-term loan to replenish liquidity by providing tokenized US Treasury bonds as collateral. At the same time, assets do not leave the balance sheets of banks, which makes lending not only profitable, but also convenient.
The Onyx platform was launched by financial giant JPMorgan. It operates in the $12 trillion intraday repurchase (REPO) market. According to Financial Times analysts, the platform has processed $300 billion worth of transactions, which indicates a high demand for the services of this private blockchain.
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