Just as it does for stock and bond prices, Goldman recently began posting digital asset prices on its Marquee platform for big clients like hedge funds, preparing for a time when the bank might be able to support trading in cryptocurrencies.In 2019, a unit of JPMorgan called Onyx introduced JPM Coin, a digital currency backed by the dollar that ran on Quorum, an internal technology that mimicked the structure of blockchain. But the bank controlled Quorum, unlike Bitcoin’s blockchain, which is decentralized. It recently spun off Quorum to a software start-up.JPMorgan also started an all-digital system that mimics the traditional “overnight repo” market, where banks exchange short-term U.S. government debt securities for cash. These transactions used to take more than a day to complete — hence the “overnight” label — but JPMorgan’s platform does th …
