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JPMorgan goes crypto, creates digital coins to transform payments business

The coin can be redeemed for a US dollar, so its value will largely remain stable

Reuters 

JPMorgan Chase & Co said on Thursday it plans to launch its own digital coins, called "JPM Coin", that customers will be able to use for instant transfer of payments over a blockchain network. The largest U.S. bank by assets said customers, on depositing money at the bank, will be issued the cryptocurrency that they will be able to use for transactions over the network with other JPMorgan clients. The coin can be redeemed for a U.S. dollar, so its value will largely remain stable, the bank said. When one client sends money to another over the blockchain, JPM Coins ...

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First Published: Thu, February 14 2019. 20:04 IST
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