page contents

Blockchain latest news: Bank JP Morgan bets on blockchain, unveils its own digital currency

Jamie Dimon, CEO of Wall Street investment bank JP Morgan, has spent an inordinate amount of time bashing bitcoin and banning employees from trading in cryptocurrencies. But now the bank has announced it’s been testing its own digital (not crypto-) currency for use in its wholesale payments business.

The digital currency is called the JPM Coin and has been trialled so far with one corporate client. It is pegged 1:1 against the US dollar, in the manner of so called stablecoins such as tether, and is instantly redeemable against that currency. There are plans to deploy it against other fiat currencies too.

The bank envisages three main uses for the JPM coin. The fir…
Blockchain Search Results

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close