FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. Quotes delayed at least 15 minutes.
J.P. Morgan to launch a U.S. dollar-backed cryptocurrency JPM Coin, the first of its kind from a major bank, will initially be used to transfer funds over a blockchain network internally and.
JP Morgan has a new digital asset, JPM Coin.It’s not really a cryptocurrency, and it’s not quite a stablecoin, but it does use a blockchain.It’s mostly referred to as a digital coin. Still.
US investment bank JP Morgan has created a crypto-currency to help settle payments between clients in its wholesale payments business. JPM Coin is the first digital currency to be backed by a major.
JP Morgan Chase has, according to reports, taken on the United States crypto platforms Gemini and Coinbase as customers. A report came out earlier this week that referenced sources in relation to the matter who highlighted that the move is the first time the banking institution has been involved or served customers from the crypto space.
US investment bank JP Morgan has created a crypto-currency to help settle payments between clients in its wholesale payments business. JPM Coin is the first digital currency to be backed by a major US bank. The crypto-currency, which runs on blockchain technology, has been used successfully to move money between the bank and a client account.
Mega-bank JPMorgan Chase (NYSE:JPM) recently announced that it will launch its own cryptocurrency, becoming the first U.S. bank to do so. At first, this might sound like an odd move. After all.
It's not Bitcoin trading. But J.P. Morgan is heading deeper into crypto to improve the bank's business.