FAB and Bank ABC in Middle East Explore Blockchain for Payments with JPMorgan Onyx System

First Abu Dhabi Bank (FAB) completes cross-border payments pilot with JPMorgan's Onyx blockchain system.

Pilot follows similar test by Bank ABC in Bahrain; FAB exploring opportunities offered by Onyx.

Onyx processes $1-2 billion daily and expanding in Middle East, Europe, India.

First public trade settled on JPMorgan's Tokenization Collateral Network using tokenized money market fund shares.

Project expands use of blockchain for payments, lending and collateral management.