The token offers the financial giant’s institutional clients the ability to make wholesale payments in euros and dollars via blockchain, connecting accounts around the world.
“The next step in this journey is to consider how to create a more consumer-oriented version to bring that same efficiency to a broader audience,” he added.
Courtesy: Bloctrends
The digital token of JPMorgan, known as JPM Coinhas taken an important step in the world of finance by managing daily transactions worth an impressive 1 billion Dollars, as confirmed by a senior executive of the American banking giant.
Takis Georgakopoulosdirector of payments at the emblematic New York firm, revealed in an interview with ‘Bloomberg‘that JPM Coin is used in daily operationss, mainly in US dollars. Furthermore, he expressed the bank’s firm intention to continue expanding its profit.
JPM Coin, a revolutionary settlement token, offers JP Morgan institutional clients the ability to make wholesale payments in euros and dollars via blockchainconnecting accounts around the world.
JPM Coin: a milestone in traditional banking
Since its creation in 2019 and its launch in 2020, JPM Coin has been a leading example of blockchain adoption by a major bank, although its current volume represents a modest fraction of the impressive 10 trillions of dollars in daily transactions that JP Morgan handles.
Additionally, Georgakopoulos noted that the company is exploring the possibility of introducing a digital deposit token in order to streamline cross-border settlements. “The next step in this journey is to consider how to create a more consumer-oriented version to bring that same efficiency to a broader audience,” he added.
In recent weeks, the company emphasized that the approval of exchange-traded funds (ETFs) is increasingly likely,Although he has stressed that he does not anticipate a significant increase in institutional interest or a substantial impact in the price of the largest cryptocurrency by marketcap.
Source: Ambito
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