QualityStocksNewsBreaks – JPMorgan Chase & Co. (NYSE: JPM) Expands JPM Coin to Ethereum for Institutional Payments and Asset Settlement
JPMorgan Chase (NYSE: JPM) has technically deployed its JPM Coin deposit token on the Ethereum mainnet, enabling eligible institutional clients to transfer funds within seconds, around the clock. According to an Oct. 19 report by Ezra Reguerra and Yohan Yun of Cointelegraph, the token represents U.S. dollar deposits held at JPMorgan. Emma Landriault, global head of Kinexys Labs, said crypto companies could use the token for blockchain payments, while financial institutions could use it to settle trades and post collateral. Landriault said Ethereum was selected for its liquidity and existing use among clients, while JPM Coin transactions will remain restricted…
