2019-2-18 18:00 |
The $156 in bitcoin being passed via the "Lighting Torch" is a bigger deal than trillions in JPM Coins would be, writes Michael J. Casey.
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The banking giant was one of the early leaders in applying blockchain tech to traditional financial activities, executing over $1.5 trillion of transactions since its inception.
JPMorgan’s JPM Coin, processing $1 billion daily, is projected to handle up to $10 billion in transactions within the next year. The bank’s global head of payments for financial institutions, Umar Farooq, announced this estimate. Farooq said he expects transactions…
Wall Street giant JPMorgan has officially launched programmable payment functionality on its institutional blockchain platform, JPM Coin, according to Onyx head of coin systems Naveen Mallela. Mallela said the new solution is a “holy grail” for the JPM Coin platform and expects it to open a new frontier in digital finance.
A LinkedIn post from JPMorgan Managing Director Naveen Mallela shares that the programmable payments product JPMorgan Chase & Co’s JPM Coin is now generally available to institutional clients.
The bank also plans to expand support for fiat currencies to deal with JPM Coin other than the U.S. dollar and euro. JPMorgan’s blockchain-powered stablecoin JPM Coin, pegged to the U.S. dollar, has reached the $1 billion mark in processed…
JPMorgan has plans to widen the coin's usage the bank's head of payments Takis Georgakopoulos said in an interview.
JPMorgan praised deposit tokens for their potential, alongside stablecoins. The bank sees the tokenization of fiat deposits as a game-changer that can enhance accessibility across major blockchains.