Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

JPMorgan Chase has launched the deposit token JPM Coin for institutional clients.

robot
Abstract generation in progress

PANews November 12th News, according to Bloomberg, JPMorgan Chase has begun offering a deposit token called JPM Coin to institutional clients, as financial institutions continue to expand their digital asset footprint. Naveen Mallela, Global Head of Kinexys, JPMorgan’s blockchain division, stated that JPM Coin represents JPMorgan’s US dollar deposits. Users can send and receive funds through the public blockchain Base, associated with Coinbase, enabling 24/7, second-level settlement payments, changing the previous limitations of multi-day processing during business hours. Previously, JPM Coin underwent several months of pilot testing, with companies like Mastercard and Coinbase participating. JPMorgan plans to open the token to clients’ clients in the future, expand to other currencies upon approval, and extend to other blockchains. The JPM Coin (JPMD) pilot program was announced in June. JPMorgan has registered the stock ticker JPME for its euro deposit token, and JPM Coin will be accepted as collateral on Coinbase.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)