Back Home

JPMorgan’s Coin Handles $1B Worth of Daily Transactions 4m ago by coinedition.com

Prev article Next article

JPMorgan’s JPM Coin is involved in $1 billion worth of transactions on a daily basis.

The banking giant is reportedly looking forward to exploring the further potential of the JPM Coin.

The Global Head of Payments, Takis Georgakopoulos, commented on the bank’s plans for creating the token’s retail version.

According to a recent Bloomberg report, the financial services company JPMorgan Chase & Co.’s digital token, JPM Coin, has seen $1 billion worth of transactions on a daily basis. The financial institution asserted that the team is further probing into the coin’s wider exploration, planning to create a “retail version” of the JPM coin.

As per the report, JPMorgan has been committed to crypto and blockchain technologies and has run a blockchain-based repo application. Leveraging the digital token, JPMorgan stated that it looks forward to establishing the initiative at higher levels.

The JPM Coin is reportedly used by the bank to manage cross-border settlements and other payments. Bloomberg mentioned that blockchain enthusiasts envision the potential use cases of the coin that ensure seamless cross-bank transfers and maximum feasibility among …

The post JPMorgan’s Coin Handles $1B Worth of Daily Transactions appeared first on Coin Edition.