JP Morgan Chase will have its own cryptocurrency
One of the most important institutions in the United States will launch the exclusive JPM Coin token for international payments
After trying to stay out of financial evolution, the US banking giant JP Morgan Chase announced the launch of its own cryptocurrency.
This was indicated by the CNBC media, who explained that this perplexed many because in the past the institution tried to settle distance with the whole cryptocurrency issue.
Umar Farooq, blockchain leader of JP Morgan Chase, clarified the bank’s perspective on this revolutionary technology in his interview for CNBC.
“Anything that exists in the world today will eventually move to a blockchain, and this will serve as the payment basis for that transaction. The applications of this technology are endless, anything in which there is distributed accounting and involves corporations or institutions can use this.”
At first, the JPM Coin token will be exclusive for international payments of large corporations, this in order to cut the time it takes for transactions that usually take a day or two.
K. Tovar
Source: CNBC
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