JPMorgan Brings Dollar-Backed JPM Coin to Ethereum
Edited by Steinar Vigdel Kolnes, Editor, Oslo
JPMorgan is rolling out JPM Coin on Ethereum for institutional clients, offering round-the-clock settlement backed by dollars held at the bank.
JPMorgan is introducing JPM Coin on Ethereum, extending its dollar-backed token to a public blockchain for institutional customers, according to Decrypt.
The token is backed by dollars held in accounts at JPMorgan, linking its value to funds within the bank.
Transactions can settle within seconds throughout the week. The rollout gives institutional clients a way to move bank-backed dollars on Ethereum outside traditional banking hours.
Source: Decrypt
