JPM Coin
JPM Coin is a planned dollar-backed cryptocurrency (stablecoin) from the major bank JP Morgan Chase, announced in February 2019 as an institution-to-institution service.[1][2][3]
JPM Coin is intended to serve as a value token on the Quorum consortium blockchain, using software (called "Quorum") also built by JP Morgan Chase, and is used to facilitate interbank payments on the Interbank Information Network (IIN).[4][5]
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
External links
- Quorum homepage, JP Morgan
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