JPMorgan is launching its own cryptocurrency—but it’s nothing like Bitcoin

Major financial institutions have been slow to adopt cryptocurrency but they are gradually opening up to it. According to a new report, JPMorgan Chase will be launching its own cryptocurrency. The financial giant is looking to launch a digital coin which will be used to settle transactions between clients of its wholesale payments business instantly. JPMorgan Chase moves over $6 trillion across the globe every single day for corporations that are clients of its wholesale payments business. It will now shift a tiny fraction of those transactions over to the “JPM Coin” in the next few months as part of a trial. This digital token has been created by the engineers at the back to instantly settle payments between clients. The bank is looking at cryptocurrency to move money around almost instantly instead of relying on conventional methods such as wire transfers which are slower. Umar Farooq, head of J.P. Morgan’s blockchain projects, told CNBC that “So anything that currently exist

JPMorgan Chase unveils cryptocurrency prototype

JPMorgan Chase on Thursday unveiled a prototype for a digital coin system using blockchain, a first among major banks in the fast-changing cryptocurrency world.

Thu 14 Feb 19 from Phys.org

JPMorgan To Launch Its Own Cryptocurrency

Major financial institutions have been slow to adopt cryptocurrency but they are gradually opening up to it. According to a new report, JPMorgan Chase will be launching its own cryptocurrency. ...

Sun 17 Feb 19 from Ubergizmo

JP Morgan is launching 'JPM Coin,' its first cryptocurrency

According to a recent CNBC report, the financial giant is launching "JPM Coin," a bank-backed cryptocurrency that will primarily be used to "instantly settle" transactions between clients in ...

Thu 14 Feb 19 from Techspot

JPMorgan is creating a cryptocurrency pegged to the dollar

The JPM Coin blockchain is based on a fork of Ethereum.

Thu 14 Feb 19 from Arstechnica

JPMorgan is launching its own cryptocurrency

Thu 14 Feb 19 from The Verge

JPMorgan Chase to create digital coins using blockchain for payments

JPMorgan Chase & Co said on Thursday it plans to launch its own digital coins, called "JPM Coin", that customers will be able to use for instant transfer of payments over a blockchain network. ...

Thu 14 Feb 19 from Reuters Technology

JP Morgan creates first US bank-backed crypto-currency

The US investment bank has created the JPM Coin to handle wholesale payments for some clients.

Thu 14 Feb 19 from BBC Technology

JP Morgan launches bank-backed cryptocurrency

JP Morgan has launched its own cryptocurrency JPM Coin but it is not intended for ordinary retail customers.

Thu 14 Feb 19 from Techradar

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