Banking Giant JPMorgan Records $1B Transactions Daily In Digital Token JPM Coin
JPMorgan, the American banking powerhouse, continues to move forward with its digital finance strategy, processing $1 billion in transactions daily through its proprietary digital token, JPM Coin. Related Reading: Bitcoin At $28,600 Despite Sale Of First Republic Bank To JP Morgan This milestone, reported by Bloomberg on Thursday, underscores the financial industry’s accelerating shift toward […]
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JPMorgan Chase & Co. anticipates that its digital currency, JPM Coin, will facilitate daily transactions amounting to $10 billion in the coming year. Umar Farooq, the Global Head of Financial Institution Payments at the bank, revealed this projection during an interview with Bloomberg held at the Singapore FinTech Festival. Farooq’s insights shed light on the ambitious expectations the financial institution has for the widespread adoption and utilization of JPM Coin as a means of conducting transactions in the digital financial landscape. Related Reading: Celestia Strikes: How This....
Despite its centralized design, JPM Coin’s real life utilization represents a step toward the mainstream adoption of blockchain technology. On the heels of PayPal announcing its decision to enter the crypto sector early next year, Bitcoin (BTC) has continued its strong performance and has been hovering around the $13,500 mark for nearly a week now. In this regard, the payment giant’s foray into the crypto market has been hailed as a game changer, especially when it comes to improving the mainstream perception of the digital asset industry as a whole.Not only that, JPMorgan Chase announced....
Swiss banking giant UBS is working on a project which has the potential to put the limelight on the blockchain technology. As per a news report, the project is being termed as the "utility settlement coin." For the said project, which is still in the nascent stages, the banking major also aspires to build an alliance around it. At present, the work on the coin is being undertaken at a Bitcoin lab in London, and the idea is to use this coin for transactions. What makes the fate of other cryptocurrencies, such as the Bitcoin, also bright is that the technology behind the UBS' coin will be....
The investment banking giant says the blockchain hype cycle has moved past inflated expectations and into the realm of being commercially viable.
Banking giant JPMorgan Chase will reportedly soon offer a passively managed Bitcoin fund to clients.