JPMorgan Announces JPM Coin Crypto Trial By The End Of 2019

[peterjonash]

The largest bank in the US, JPMorgan Chase (JPM), has announced that it will test its own cryptocurrency JPM Coin by the end of 2019 with its corporate clients.

Umar Farooq, JPMorgan’s head of digital treasury services and blockchain, announced that the bank intends to launch the pilot of JPM Coin with selected clients “around the end of the year” if they receive regulatory approval.

Farooq expressed his confidence that the project will receive the approval:

“The technology is very good, but it takes time in terms of licensing and approval. It must be explained.”


He went on to say that JPMorgan has noticed a rise in customer interest in the bank’s stablecoin project JPM Coin since it was announced in mid-February 2019. Customers from U.S., Europe, and Japan have been interested in finding out more about JPM Coin’s role in accelerating transactions with bonds and securities.

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