As blockchain continues to disrupt the existing payments systems, two financial giants are looking to leverage the technology in order to improve cross-country transactions.
Cryptocurrencies are a workaround for consumers looking to make financial transactions across various country borders more efficient in terms of speed and cost. JPMorgan and Visa recognize this and are working cohesively to streamline the use of Liink and B2B Connect — both private blockchain applications.
“According to an Oct. 11 report from Forbes, JPMorgan’s Liink is a network specifically designed for cross-border transfers and is offered under the bank’s blockchain and payments initiative, Onyx,” a Cointelegraph article explained. “Onyx provides a platform for institutions to share financial information and validate transactions.”
“Visa’s B2B Connect is a similar network to Liink that was built for institutional grade use and has now been integrated with Onyx’s Confirm,” the article added.
This is a prime example of how blockchain technology can be used by large financial organizations, while highlighting its adoption and/or integration. As opposed to going against the tide of disruption, JPMorgan and Visa are working with innovative technologies like blockchain, which could only help foster its growth.
Capitalizing on Blockchain Growth
Investors looking for active strategy opportunities in blockchain technology can look to exchange traded funds (ETFs). In particular, the Amplify Transformational Data Sharing ETF (BLOK) is an option to consider.
The fund features an active management strategy that can flex with the market’s movements by putting holdings in the hands of seasoned portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.
While the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia-Pacific. This allows the fund to gain exposure to growth opportunities abroad where blockchain technology could be utilized to its fullest extent.
The fund invests in companies partnered with or directly investing in companies utilizing and developing blockchain technology, the technology behind cryptocurrencies like bitcoin.
Summary of BLOK’s features per its product website:
- Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
- An active management approach could enable the fund to remain flexible, make timely decisions, and identify companies that are best positioned to profit from the developing blockchain technology space.
- Convenience and transparency of the ETF structure.
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