JPMorgan Plans Ethereum Expansion for JPM Coin
Edited by Steinar Vigdel Kolnes, Editor, Oslo
JPMorgan Chase says its dollar deposit token, JPM Coin, will become available on Ethereum, extending its blockchain-based payments reach.
JPMorgan Chase announced Monday that it plans to make JPM Coin available on Ethereum, expanding the bank’s use of public blockchain infrastructure for dollar payments.
The token represents U.S. dollar deposits held at JPMorgan. Its planned arrival on Ethereum would bring the bank’s deposit-token offering to the second-largest cryptocurrency network.
The move comes as traditional financial institutions increase their adoption of public blockchains. The source report did not specify a launch date or provide further rollout details.
Source: Bitcoin.com News
