JPMorgan Chase plans to continue expanding the use of JPM Coin

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Cointime2023/11/12 13:15

By:Cointime

Takis Georgakopoulos, Global Head of Payments at JPMorgan, plans to further expand the use of JPM Coin. The token processes transactions worth around $1 billion per day. Georgakopoulos stated that the next step is to consider creating a more retail version to bring the same efficiency to consumers. JPM Coin is a service offered by JPMorgan that allows wholesale clients to make payments in US dollars and Euros through a private blockchain network. This is one of the few real-time blockchain applications implemented by large banks. In addition, the company is also running a blockchain-based repo application and researching digital deposit tokens to accelerate cross-border settlements.

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