From Wikipedia, the free encyclopedia
JPM Coin is a dollar-backed cryptocurrency (
stablecoin ) from the bank
JP Morgan Chase , announced in February 2019 as an institution-to-institution service.
[1]
[2]
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JPM Coin is intended to serve as a value token on the Quorum
consortium blockchain , using software (called "Quorum") also built by JPMorgan Chase, and is used to facilitate
interbank payments on the
Interbank Information Network (IIN).
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As of October 2023, JPM Coin is used for approximately $1 billion of transactions each day.
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References
^ Lucas Mearian (February 14, 2019),
"J.P. Morgan to launch a U.S. dollar-backed cryptocurrency" , Computerworld
^ Mary-Ann Russon (February 14, 2019),
JP Morgan creates first US bank-backed crypto-currency , BBC
^ Hugh Son (February 14, 2019),
JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business , CNBC, [R]etail investors will probably never get to own a JPM Coin. Unlike bitcoin, only big institutional clients of J.P. Morgan that have undergone regulatory checks, like corporations, banks and broker-dealers can use the tokens.
^ Anna Irrera (11 February 2020).
"JPMorgan in talks to merge blockchain unit Quorum with startup ConsenSys" .
Reuters . Retrieved 12 February 2020 .
^ David Canellis (February 14, 2019),
JP Morgan's new digital 'coin' is not a cryptocurrency, or even a stablecoin: JPM Coin is the ultimate bankcoin ,
The Next Web
^ Ghosh, Suvashree (26 October 2023).
"JPMorgan Says JPM Coin Now Handles $1 Billion Transactions Daily" . Bloomberg . Retrieved 7 December 2023 .
External links