JPMorgan Coin Payment System Does $1B In Daily Transactions, A Huge Jump From Four Months Ago
Portfolio Pulse from Khyathi Dalal
JPMorgan Chase & Co's digital token, JPMorgan Coin, handles $1 billion worth of transactions daily, a significant increase from four months ago. The token, which allows wholesale clients to make dollar and euro-denominated payments through a private blockchain network, has completed $300 million in transactions since its launch in 2020. The bank is also exploring a digital deposit token for enhancing cross-border settlements.
October 26, 2023 | 9:23 pm
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JPMorgan's digital token, JPMorgan Coin, is handling $1 billion in daily transactions, indicating a growing acceptance and usage of the token. This could potentially boost the bank's revenues and reputation in the digital asset space.
The news indicates a growing acceptance and usage of JPMorgan Coin, which could potentially increase the bank's revenues from transaction fees. Additionally, the bank's exploration of a digital deposit token for enhancing cross-border settlements could further strengthen its position in the digital asset space.
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